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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, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- VISA Power Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
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