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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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Sunday, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
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- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- The University of Queensland
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Mjunction Services Limited - India
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