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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, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
Monday, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
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- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- White Energy Company Limited
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
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