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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, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
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