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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
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