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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, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
Friday, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
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- Ministry of Transport, Egypt
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- Standard Chartered Bank - UAE
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- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
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- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
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- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
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- Wood Mackenzie - Singapore
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- Orica Mining Services - Indonesia
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- Bhatia International Limited - India
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- Africa Commodities Group - South Africa
- MS Steel International - UAE
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
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- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
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- Economic Council, Georgia
- Australian Coal Association
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
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- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Bangladesh Power Developement Board
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- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
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- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
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- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
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- PTC India Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
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- Ambuja Cements Ltd - India
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