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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
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- Planning Commission, India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
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