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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 05 June 15
U.S PRODUCED 15.1 MMST OF COAL THIS PAST WEEK; LESS 20.7% COMPARED TO SAME PERIOD IN 2014
COALspot.com – United States the second largest coal producer in the world has produced approximately totalled an estimated 15.1 million shor ...
Thursday, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
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- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
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