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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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Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
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Wednesday, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had & ...
Monday, 05 December 16
INDIAN HYDROPOWER PRODUCTION AT LOWEST LEVEL SINCE 2012, SAYS COMMODORE RESEARCH
According to Commodore Research, the first eleven months of this year have seen India’s overall electricity production total approximately 1. ...
Monday, 05 December 16
THE DECEMBER 2016 HBA HITS TO ITS HIGHEST LEVEL SINCE MAY 2012
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2012. The government declared benchmark prices for Indo ...
Monday, 05 December 16
BALTIC PANAMAX INDEX UP 5.98%; BALTIC CAPE INDEX FELL 2.52% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally slightly continues this past week and ending on a s ...
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- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- MS Steel International - UAE
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
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