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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
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