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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, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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- Lanco Infratech Ltd - India
- The University of Queensland
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
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