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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, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
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- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
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