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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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Monday, 15 January 18
QUEENSLAND SHIPPED 210.8 MT OF COAL IN 2017, DOWN 5% YOY QUEENSLAND RESOURCES COUNCIL
Queensland's coal exports over the 12 months reached 210.8 mt which is down 10 mt or 5 per cent from the previous year’s record of 220.8 ...
Thursday, 11 January 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS FIXING AT AROUND $10K - FEARNLEYS
Supramax
USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around $26k daily while supras 1-2k less for same ...
Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is p ...
Tuesday, 09 January 18
INDONESIAN GOVERNMENT DECLARED COAL REFERENCE PRICE UP IN JANUARY
COALspot.com: the Indonesian Coal Price Reference ( HBA) rose 1.60 per cent in January 2018, the latest ministerial decree showed.
The benchma ...
Friday, 05 January 18
U.S. WEEKLY COAL OUTPUT FELL 32.4% PER CENT WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 10.5 million short tons ...
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- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- Dalmia Cement Bharat India
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