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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, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended 0700 hours 3 December 2012, Newca ...
Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1 2013 delivery gained 2.87 & 0.83 percent MoM and WoW respectively ...
Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer.
The BDI was down 0.37 pct closing at 1,086 ...
Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...
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- Baramulti Group, Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- The University of Queensland
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
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