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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, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
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- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Marubeni Corporation - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- PTC India Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
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