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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
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- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
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