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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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Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- Bhatia International Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
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