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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, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
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