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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, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
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