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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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Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
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