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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, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
Wednesday, 31 July 13
COAL GASIFICATION
IBC’s Coal Gasification conference explores the opportunities for coal gasification investment and development in Asia.
With depleting dome ...
Wednesday, 31 July 13
SUPRAMAX : THE PACIFIC BASIN WAS MOVING ON A POSITIVE PATH - EVA TZIMA
COALspot.com: Cape - Despite holding their ground fairly well early on in the week, Capes in the Atlantic basin gave in to the mounting pressure fro ...
Tuesday, 30 July 13
HARD COAL ON THE WAY TO BECOMING THE WORLD'S MOST IMPORTANT ENERGY SOURCE - VDKI
Press Release : Hard coal continued to be the world’s fastest-growing fossil primary energy source in 2012. It covered about 28% of the world ...
Tuesday, 30 July 13
WIJAYA TRI UTAMA PURCHASES MICROCOAL TECHNOLOGIES' CLEAN COAL UPGRADING FACILITY
- First MCI commercial scale application of proprietary microwave technology to upgrade coal thermal output and reduce pollutants
- MicroCoal to re ...
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- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
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