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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Banpu Public Company Limited - Thailand
- The University of Queensland
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- MS Steel International - UAE
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
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