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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, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
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- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Eastern Coal Council - USA
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
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