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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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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Australian Coal Association
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
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