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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, 12 August 15
FOB NEWCASTLE COAL SWAP FLAT WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 0.98 per MT (-2.20%) month over month to US$ 43.65 per mt. The swap ...
Tuesday, 11 August 15
GLOBAL PRODUCTION OF CRUDE STEEL REACHED A NEW ALL-TIME HIGH OF 1,661M TONNES IN 2014 - VDKI
COALpot.com: Global production of crude steel reached a new all-time high of 1,661m tonnes in 2014, said German Coal Importer Association, in its l ...
Tuesday, 11 August 15
2016 CFR S.CHINA COAL SWAPS CLOSED SLIGHTLY HIGHER THAN 4Q 2015 CLOSING PRICES; BUT NOT SIGNIFICANT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 10 (0.20%) per MT month over month.
A commodi ...
Monday, 10 August 15
SOUTH KOREAN UTILITY KOMIPO INVITES BITUMINOUS COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 560,000 Metric Tons (MT) of 4,600kcal/kg NAR c ...
Sunday, 09 August 15
THE PANAMAX MARKET HAS REMAINED WEAK THIS WEEK
COALspot.com: The freight market continued to be buoyant with cape index pushing the BDI.
The BDI was up 10.49% and closed at 1200 points on 7 ...
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- CNBM International Corporation - China
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
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