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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
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- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Deloitte Consulting - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Planning Commission, India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
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