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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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Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
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- Posco Energy - South Korea
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
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