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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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Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
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