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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, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
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- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- White Energy Company Limited
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
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