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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, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
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