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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, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
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- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
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