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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, 18 May 17
SOUTHEAST ASIA CAN ACCELERATE ACHIEVEMENT OF PARIS AGREEMENT GOALS - WCA
Low emissions coal in Asia reduces more CO2 emissions than renewable investment in Western Europe.
Investing in low emissions coal plants in S ...
Wednesday, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
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