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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, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
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