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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 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Wednesday, 08 February 17
MARKET INSIGHT - PANOS MAKRINOS
The challenges the oil market has witnessed since the end of 2014 has resulted in a crisis for the global offshore oil and gas exploration industry ...
Tuesday, 07 February 17
WE ARE STILL RIDING ON A WAVE OF MARKET IMPROVEMENT, WITH THE GLOBAL TRADE OF MOST COMMODITIES STILL SHOWING SIGNS OF IMPROVING GROWTH - GEORGE LAZARIDIS
The end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally comi ...
Monday, 06 February 17
AFTER MONTHS OF GAINS, THE INDONESIAN GOVERNMENT DECLARED MONTHLY COAL BENCHMARK PRICE IS STEADILY DROPPING
COALspot.com: Over the past two months, the HBA of Indonesian thermal coal has dropped around 18.06 percent. It sank to $ 83.32 per ton for Februar ...
Monday, 06 February 17
THE FREIGHT MARKET CONTINUED ITS DOWNFALL IN ALL SEGMENTS
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was declined in all segments week ending 27 January. The fall was cont ...
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- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
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