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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, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
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- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- White Energy Company Limited
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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