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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, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
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- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
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