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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, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
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- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- The University of Queensland
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Australian Coal Association
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
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