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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
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