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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Planning Commission, India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
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