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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, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
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, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
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- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
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