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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, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
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- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Australian Coal Association
- Indian Energy Exchange, India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
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