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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, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
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- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
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