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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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 ...
Monday, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
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- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
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