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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, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- White Energy Company Limited
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
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