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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, 18 October 16
COAL PRICES KEPT CLIMBING
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
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- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
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