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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, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Planning Commission, India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
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