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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, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
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- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
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