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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, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
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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Showing 3651 to 3655 news of total 6871 |
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- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Australian Coal Association
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
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