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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, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- PTC India Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
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