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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, 23 June 15
Q3 FOB INDONESIA COAL SWAP FALL $1.12 IN ONE 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, 23 June 15
FOB RICHARDS BAY COAL SWAP HAS REMAINED STEADY OVER THE PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 2.32 ...
Monday, 22 June 15
BORYEONG POWER PLANT TO IMPORT 140K MT OF LCV COAL FOR AUGUST - SEPTEMBER 2015
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase 140K Metric Tons (MT) of LCV coal for ...
Monday, 22 June 15
CFR SOUTH CHINA COAL SWAP: UP MONTH OVER MONTH; DOWN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.30 (0.58%) per MT month over month.
A commodity swap is a ...
Monday, 22 June 15
FOB NEWCASTLE COAL SWAP: UP WEEK OVER WEEK AND MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.54 per MT (1.19%) month over month to US$ 45.87 per mt. The swap was ...
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- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Australian Coal Association
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
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