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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, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
Wednesday, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
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$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
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- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
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- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- The Treasury - Australian Government
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
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- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
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- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
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