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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, 22 May 15
FOB INDONESIA COAL Q3'15 SWAP FINISHED THE WEEK UP 38 CENTS TO $43.65 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, past week.
The Q3 swap was declined US$ ...
Friday, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
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- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
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