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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, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
Tuesday, 30 June 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED $ 43.45 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and flat week over week, this past week.
The Q3 swap was decli ...
Monday, 29 June 15
CFR SOUTH CHINA COAL SWAPS UP SLIGHTLY MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.57 (1.11%) per MT month over month.
A commodity swap is a ...
Monday, 29 June 15
FOB NEWCASTLE COAL SWAP SLIGHTLY UP MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.49 per MT (1.08%) month over month to US$ 45.77 per mt. The swap was ...
Saturday, 27 June 15
THE FREIGHT MARKET WAS STEADY EARLIER IN THE WEEK; SOFTEN INTO WEEK'S END
COALspot.com: The freight market remain steady earlier in the week, but towards end of the week BDI and BCI shows some signs of softening.
The ...
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- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
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