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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, 28 January 16
WHAT ARE THE PROSPECTS FOR COAL IN LIGHT OF THE PARIS CLIMATE AGREEMENT? - GERMAN COAL IMPORTERS ASSOCIATION
This depends – says the VDKi – to a very great extent on who you want to believe more, the United Nations or the International Energy A ...
Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
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- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Minerals Council of Australia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
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