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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, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 16 December 15
MARKET INSIGHT - KATERINA RESTIS
On Friday 4th of December the meeting of OPEC was held in Vienna, Austria. Since its last meeting, oil and product stock levels have continued to r ...
Tuesday, 15 December 15
THE GOVERNMENT DECLARED THERMAL COAL BENCHMARK PRICE CRASHING ONCE AGAIN
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price down to below 2009 level. HBA has slumped by 1.69% mo ...
Tuesday, 15 December 15
API 5 FOB NEWCASTLE COAL SWAP FIRM W-W; WEAK M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $.13 per ton (0.35%) month over month to US$ 37.07 per ton. The swap w ...
Monday, 14 December 15
5000 GAR CS (I) COAL INDEX DECLINE US$ 0.04 PER TON W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.04 per ton (-0.10 %) week over week.
According to the CS (i) coal (system generated ...
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- London Commodity Brokers - England
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Australian Coal Association
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
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