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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, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
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- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- White Energy Company Limited
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
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