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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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Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
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- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- CNBM International Corporation - China
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
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