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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, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
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