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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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Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Planning Commission, India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
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