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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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Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
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- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Planning Commission, India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
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