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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, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Planning Commission, India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- The University of Queensland
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
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