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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, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
Wednesday, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Economic Council, Georgia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Australian Coal Association
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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