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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, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
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