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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
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- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- ASAPP Information Group - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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