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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, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
Monday, 16 November 15
KOMIPO INVITES BIDS FOR 1.295 MILLION TONS OF BITUMINOUS COAL FOR Q1 - Q2'16
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,295,000 Metric Tons (MT) of minimum 4,600 kc ...
Monday, 16 November 15
SOUTH CHINA COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.05 (12.59%) per ton month over month.
A commodity swa ...
Monday, 16 November 15
CLARKSEA INDEX COMPETITION: IS IT ALL IN THE TIMING? - CLARKSONS
Readers of the Shipping Intelligence Weekly are invited each year to predict the value of the ClarkSea Index one year ahead in the first week of No ...
Monday, 16 November 15
DRY BULK MARKET: Q1' 2016 SHAPING UP TO BE A ' DISASTROUS' ONE OF PROJECTED LOWER IRON ORE IMPORTS FROM CHINA
Over the course of the past year or so, it’s been the drop of coal imports from China, which has had a detrimental effect on the course of dr ...
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- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- White Energy Company Limited
- Minerals Council of Australia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
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