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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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Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
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- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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