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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, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
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- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
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