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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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Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
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- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
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