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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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Sunday, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
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- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- CNBM International Corporation - China
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
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