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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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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
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- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- The University of Queensland
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
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