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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
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- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Aditya Birla Group - India
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