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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, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
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- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
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