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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, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
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- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
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