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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, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
Thursday, 31 October 13
HANDY: ACTIVE; PANAMAX: QUIET; CAPESIZE: NO LIGHT
Handy
The handy market had an active week however not directly translated into the rates we´ve seen in the Pacific. We see more coal and baux ...
Wednesday, 30 October 13
INDONESIAN STATE OWNED COAL MINER HAS EXPORTED 7.02 MILLION TONS OF COAL IN 9 MONTHS
COALspot.com : PT. Bukit Asam, Indonesian state owned coal miner has sold 13.24 million tons of coal for the period January - September 2013. Accord ...
Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both C ...
Wednesday, 30 October 13
CAPESIZE: DOWNWARD; SUPRAS AND HANDIES: STABLE - INTERMODAL
The Dry Bulk market has resumed its downward movement, noting another dip for a third week in a row. The larger size segments were responsible for p ...
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Showing 4036 to 4040 news of total 6871 |
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- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Ministry of Mines - Canada
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
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