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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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Friday, 28 June 13
U.S. PRODUCED 1.52 PERCENT LESS COAL WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.40 million short tons (mmst) of ...
Thursday, 27 June 13
US COAL EXPORTS BEATS CHINESE COAL IMPORTS AS THE MOST INFLUENTIAL COAL TRADE - BIMCO
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 millio ...
Thursday, 27 June 13
HANDY : USD 12000 FOR SPOT COAL INDO/CHINA AND AROUND USD 13000 INDO/ECI - FEARNLEYS
Handy
Atlantic rates hold well. Continent to Far East is worth more than USD 14k daily whilst USG to Far East pay 23/24k a day. On the route from B ...
Thursday, 27 June 13
DRY BULK CARRIERS DOMINATE NEWBUILDING ORDERS AS SHIP OWNERS ARE ENCOURAGED BY LATEST FREIGHT RATE RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders for dry bulk carriers were already high, compared to last year, prior to the latest rally of the Baltic Dry Index (BDI), which ha ...
Tuesday, 25 June 13
CAPESIZE MARKET TO REMAIN BULLISH SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been experiencing its long-awaited rally, with the Baltic Dry Index, the industry's benchmark rising to healthier levels fo ...
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- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
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