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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, 05 January 16
THE SHIPPING MARKET IN 2015 AND LOOKING FORWARD - BIMCO
Global economy: menacing clouds in the sky cast a shadow on global economic developments 2015 never really took off, even though the global economi ...
Tuesday, 05 January 16
4200 GAR COAL INDEX FALL TOWARD $27;SLIPPED 28.05% YEAR-TO-DATE
COALspot.com: Average 5000 GAR coal index has not moved in the past week, averaging $40.12 per ton on last Thursday, according to CS (i) Coal Index ...
Monday, 04 January 16
CFR SOUTH CHINA COAL SWAP REMAIN FLAT OVER CHRISTMAS & NEW YEAR HOLIDAYS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Friday, 01 January 16
FOB INDONESIA COAL SWAP FOR Q1'16 DELIVERY CLOSED AT $36.75 PER TON
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month but flat week over week.
According to AsiaClear OTC coal swap' ...
Thursday, 31 December 15
COAL PRICES FELL ON WEAK DEMAND
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 ...
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- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- White Energy Company Limited
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Petron Corporation, Philippines
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