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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, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
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- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Planning Commission, India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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