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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, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Sical Logistics Limited - India
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