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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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Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
Thursday, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
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