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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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Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
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