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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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Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
Friday, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
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- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
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