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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, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
Thursday, 02 August 18
INDO / CHINA COAL RV'S IS PAYING AROUND USD 11,000 TO SUPRAS BSS DELIVERY SINGAPORE - FEARNLEYS
Capesize
The counter seasonally strong market during the summer months bodes well for the remainder of the year.
According ...
Wednesday, 01 August 18
JOKOWI CANCELS PLAN TO REVOKE COAL DMO - JP
President Joko "Jokowi" Widodo on Tuesday has canceled the government’s plan to revoke the domestic market obligation (DMO) for coa ...
Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to ...
Tuesday, 31 July 18
INDONESIA UNLIKELY TO CHANGE COAL SUPPLY, PRICING RULES UNTIL 2019 - REUTERS
Indonesia is unlikely to change its rules on domestic coal supply and pricing until 2019, Coordinating Maritime Minister Luhut Pandjaitan said on M ...
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- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Economic Council, Georgia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
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