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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 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
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