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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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Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
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