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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
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- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
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