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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
Monday, 09 November 15
INDIAN THERMAL COAL IMPORTS SURGED 18%; COKING COAL 6.31% DURING APRIL-OCTOBER: BUSINESS-STANDARD
Indian thermal coal imports surged 18% at the country's top 12 major ports to 55.90 million tonnes (MT) in the first seven months of the curren ...
Sunday, 08 November 15
THE FREIGHT MARKET KEEP DROPPING THIS WEEK - VISTAAR
COALspot.com: The freight market keep dropping this week.
The BDI down 12.48 percent week on week and closed at 631 points on 6 November 2015. ...
Sunday, 08 November 15
CAPESIZE FREIGHT RATES IN AUSTRALIA-CHINA ROUTES OVER 50% CHEAPER THAN BRAZIL-CHINA ROUTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s mining and steel industries are facing tectonic shifts over the past couple of years, with the country’s limiting of coal use, ...
Friday, 06 November 15
COAL PRODUCTION IN THE U.S. FELL SHARPLY FOR THE WEEK ENDING OCTOBER 31
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
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- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
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