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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, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
Friday, 26 June 15
COAL PRODUCTION IN THE U.S ROSE 6.0% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.3 million short ...
Thursday, 25 June 15
THE PORT OF NEWCASTLE SHIPPED 13.31% MORE COAL IN MAY 2015 COMPARED TO APRIL 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.18 billio ...
Thursday, 25 June 15
CAPESIZE: PERIOD INTEREST REMAINED STRONG FOR A SECOND WEEK - INTERMODAL
COALspot.com: Following those depressive last six months, the BDI closed off on last Friday noting a substantial weekly increase, which pushed the ...
Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all ...
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- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
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