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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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Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
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