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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
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- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- VISA Power Limited - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Australian Coal Association
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
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