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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
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- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- White Energy Company Limited
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
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