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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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Saturday, 27 July 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN STEADY - CAPT.REDDY
COALspot.com : The freight market seemed to soften this week with BDI , Cape and Panamax indices dropped average 5 percent on week.
The BDI was d ...
Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
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- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
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