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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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Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
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- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- White Energy Company Limited
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
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