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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, 31 December 15
2016 FOB NEWCASTLE COAL SWAP RALLY TO CLOSE AT $37.98/TON
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.48 per ton (4.05%) this past week compared to the sam ...
Wednesday, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
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- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
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