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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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Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Planning Commission, India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
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