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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, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
Thursday, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
...
Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
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- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Australian Coal Association
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