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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, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
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