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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, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Eastern Coal Council - USA
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