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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, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
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- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- The University of Queensland
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
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