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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, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- White Energy Company Limited
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
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