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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, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
Monday, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
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- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
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