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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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Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
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- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- PTC India Limited - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
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