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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, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
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- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
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