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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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Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- VISA Power Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
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