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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, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
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- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- The University of Queensland
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Economic Council, Georgia
- PTC India Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
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