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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
Tuesday, 01 October 13
DRY BULK MARKET POISED FOR RETREAT ON CHINA HOLIDAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The start of a national weeklong in China as of Tuesday is expected to put a lid in the latest rally of the dry bulk freight market, as has always b ...
Monday, 30 September 13
NEWCASTLE'S COAL EXPORT VOLUME CONTINUES TO SLIP
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 8.38 per cent week on week to 2.67 million mt fo ...
Monday, 30 September 13
PANAMAX CHARTER RATES TOUCHING US$ 18K FOR A TRIP TO NOPAC - CAPT. REDDY
COALspot.com : The freight market continued to remain firm, BDI and the Panamax index up week ended 27 September 2013.
The cape index was fell to ...
Sunday, 29 September 13
API 8 CFR SOUTH CHINA COAL Q3 2014 DELIVERY SWAP GAINED $1.19 M-O-M
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
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- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
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