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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
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- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Romanian Commodities Exchange
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