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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
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