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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
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