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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
Tuesday, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
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- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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