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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, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
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