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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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Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
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- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
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