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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, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
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