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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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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
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