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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, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
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