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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, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
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- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
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