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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, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
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- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
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