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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, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
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- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
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