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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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Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
Wednesday, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
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- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- PTC India Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
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