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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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Friday, 07 July 17
EIA ESTIMATES SHOW U.S WEEKLY COAL PRODUCTION UP 1.7 PERCENT
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.9 million short tonn ...
Thursday, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
Supramax
Another slow start to the week with somewhat softening rates and few fixtures.
According to Fearnleys Weekly Dry bulk report, the N ...
Thursday, 06 July 17
UNEXPECTED MOVE FROM CHINA BOOSTS COAL PRICES - OIL PRICE
Coal prices have been cooling the last few months — after a spectacular run last year. But news late last week suggests the market is about t ...
Wednesday, 05 July 17
COAL PRICES ROSE IN CHINA, JAPAN AND EUROPE IN 2016 - BP
COALspot.com: Coal prices rose in China, Japan and Europe in 2016 after four years of price declines.
According to bp, the rise in coal prices ...
Wednesday, 05 July 17
TANKER MARKET INSIGHT - KATERINA RESTIS
A war of words blasted last month as the UAE, S. Arabia, Egypt and Bahrain revealed that they are experiencing severe diplomatic issues with the st ...
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Showing 2011 to 2015 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Planning Commission, India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
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