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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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Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
Thursday, 05 January 17
CAPE MARKET HAVE KEPT SURPRISINGLY FIRM AND ACTIVE DURING THE CHRISTMAS AND NEW YEAR HOLIDAYS - FEARNLEYS
Supramax
The first week after a slow Christmas break has started off with little activity and softening rates. Not surprisingly, the market is fi ...
Thursday, 05 January 17
COMPARISON OF HONG KONG AND LONDON ARBITRATION - SKULD
KNOWLEDGE TO ELEVATE
Whilst London arbitration is the most popular platform for resolution of charterparty disputes, where the parties involved a ...
Wednesday, 04 January 17
INDONESIA'S COAL PRODUCTION IS ESTIMATED TO REACH 434 MILLION TONS IN 2016 EXCEEDED THE GOVERNMENT'S INITIAL TARGET
Indonesia's coal production is estimated to reach 434 million tons in 2016 exceeded the government's initial target. The Ministry of Energy ...
Tuesday, 03 January 17
BENGKULU TO IMPOSE TOUGHER REGULATION FOR UNPROCESSED COAL AND MINERALS EXPORTS IN 2017 - MEDIA
Bengkulu provincial government is planning to impose tougher regulation for export of coal and mineral in 2017. According to liputan6 online portal ...
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- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
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