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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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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
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