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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Indonesian Coal Mining Association
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
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