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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
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- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
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- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
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- Merrill Lynch Commodities Europe
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- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- New Zealand Coal & Carbon
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- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Planning Commission, India
- Australian Coal Association
- Posco Energy - South Korea
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
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