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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, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of ...
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- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
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