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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- The University of Queensland
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
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