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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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Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
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- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Central Electricity Authority - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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