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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, 05 October 15
Q1 & Q2 2016 DELIVERY SWAPS DECLINED M-M AND W-W THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.36 per ton (0.85%) month over month to US$ 42.12 per ton. The ...
Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
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- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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