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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, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
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