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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
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- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- The University of Queensland
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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