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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, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
Thursday, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
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- Planning Commission, India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- White Energy Company Limited
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- PTC India Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
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