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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, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
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- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- MS Steel International - UAE
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
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