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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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Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
Friday, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly eve ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
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- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- The University of Queensland
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