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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, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
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- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
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