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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Sunday, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
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- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Parliament of New Zealand
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Lanco Infratech Ltd - India
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