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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, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
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Showing 4026 to 4030 news of total 6871 |
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- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- White Energy Company Limited
- PTC India Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- The University of Queensland
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
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