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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
Monday, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
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- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
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