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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, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
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- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- The University of Queensland
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
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