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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
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