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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
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