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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
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