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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
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- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
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