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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, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
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- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
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- Planning Commission, India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
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- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
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- Thai Mozambique Logistica
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- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
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- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
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- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Economic Council, Georgia
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- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
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- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
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