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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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Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
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- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
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