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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 13 September 13
DIRECTOR GENERAL OF MINERAL AND COAL OF INDONESIA REVISED UP COAL PRICE REFERENCE TO US$ 76.89
COALspot. com - The Indonesian government has revised up its owned coal bench mark price by US$ 0.19/ MT to US$ 76.89 for September 2013 deliveries ...
Thursday, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
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- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
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