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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, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
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