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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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Thursday, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
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- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- White Energy Company Limited
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
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