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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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Friday, 07 August 15
COAL PRICE DEVELOPMENTS CAN ONLY BE DESCRIBED, SUCCINCTLY AS "OVERSUPPLY MEETS SUBDUED DEMAND" - VDKI
Coal Outlook 2015 – International
Regarding the outlook for global coal trading, two questions arise: firstly, “ whether the years of ...
Friday, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
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- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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