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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
Monday, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
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- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
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