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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, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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