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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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Thursday, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
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- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
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