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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, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the nex ...
Thursday, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
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, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
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- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
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