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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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Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Australian Coal Association
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
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