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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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Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
Sunday, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
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- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- GMR Energy Limited - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- The University of Queensland
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
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