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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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Wednesday, 23 December 15
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
As we are heading towards the end of the year we could argue that most of those involved in the shipping industry share mixed feelings for 2015. Th ...
Wednesday, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
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- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- The University of Queensland
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
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