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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, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Aditya Birla Group - India
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