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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
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- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Australian Coal Association
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
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