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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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Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
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- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
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