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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, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
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- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
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