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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
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