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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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Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
Monday, 06 July 15
KOREA MIDLAND POWER COMPANY LIMITED ISSUED A TENDER FOR 250K MT BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 250K Metric Tons (MT) of 5300 kcal/kg NAR coal ...
Monday, 06 July 15
COAL TRADING & RISK MANAGEMENT TRAINING COURSE
Are you ready to invest in yourself and take your trading and risk management strategy to the next level? The Coal Trading & Risk Management Tr ...
Monday, 06 July 15
CFR SOUTH CHINA COAL SWAP; DECLINED D-O-D,W-O-W AND M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.53 (1.01%) per MT month over month.
A commodity swap ...
Sunday, 05 July 15
THE BALTIC DRY INDEX WAS DOWN 18%; PANAMAX UP 9%
COALspot.com: The freight market was soft during this week. However indices closed slightly firmer end of the week on 3rd July.
The BDI was do ...
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- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- MS Steel International - UAE
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
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