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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, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
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- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- PTC India Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
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