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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
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- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Planning Commission, India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
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