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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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Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
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- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Parry Sugars Refinery, India
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