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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, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
Thursday, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
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Showing 1846 to 1850 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Australian Coal Association
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
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