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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- The University of Queensland
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