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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, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
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Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
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