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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
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Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
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- Commonwealth Bank - Australia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
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