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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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Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
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- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Deloitte Consulting - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
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