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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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Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
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- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- MS Steel International - UAE
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
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