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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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Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
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Showing 1851 to 1855 news of total 6871 |
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- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
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