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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 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
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