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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, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
Friday, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
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- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
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- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
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- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Planning Commission, India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
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- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
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