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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, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
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- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
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