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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, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
Thursday, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
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Showing 1941 to 1945 news of total 6871 |
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- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
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