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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
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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- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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