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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
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