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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, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
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