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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, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
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- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- White Energy Company Limited
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
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