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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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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- PTC India Limited - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
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