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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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Friday, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
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- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
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