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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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Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
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- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Economic Council, Georgia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- The University of Queensland
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
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