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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, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
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- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
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