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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, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
Friday, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
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- Grasim Industreis Ltd - India
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- Metalloyd Limited - United Kingdom
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- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- Central Java Power - Indonesia
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- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
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- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Australian Coal Association
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
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- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
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- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- White Energy Company Limited
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
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