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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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Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
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- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Australian Coal Association
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
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