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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
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- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Latin American Coal - Colombia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
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