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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
Friday, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
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- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- MS Steel International - UAE
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
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