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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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Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
Friday, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- The University of Queensland
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Planning Commission, India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Commonwealth Bank - Australia
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