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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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Thursday, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
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- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Bhatia International Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
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