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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, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
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- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Planning Commission, India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
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