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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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Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
Wednesday, 07 October 15
SHIPPING MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2015 and more specifically during the summer season has been rather remarkable. 421 v ...
Wednesday, 07 October 15
INDONESIA COAL SWAPS HAVE CONTINUED TO DECLINE, FALLING ALMOST 7% M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.23 (-5.51%) per t ...
Tuesday, 06 October 15
THE IMPACT OF LOW OIL PRICE ON THE SHIPPING INDUSTRY - LITERATED
The fall in global oil prices over the last one year has been beneficial to the shipping industry. The demand for oil tankers has picked up and the ...
Tuesday, 06 October 15
FOB RICHARDS BAY COAL SWAPS PLUNGE MORE THAN 6 PER CENT M-M
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$ ...
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- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
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- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Minerals Council of Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
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- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- PTC India Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Siam City Cement - Thailand
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Economic Council, Georgia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
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