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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, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
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- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- The University of Queensland
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Planning Commission, India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
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