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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 11 May 15
API 5 FOB NEWCASTLE COAL SWAP; INCREASED M-O-M; DECLINED W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.62 per MT (1.41%) month over month and lost US$ 0.88 week on w ...
Monday, 11 May 15
CFR SOUTH CHINA COAL SWAP: DECLINED MOM AND WOW
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.46 (-0.90%) per MT month over month and US$ 0.28 (0. ...
Monday, 11 May 15
KOREA MIDLAND POWER INVITES BIDS FOR 140K MT OF 4600 NAR COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued a new tender to buy total 140,000 Metric Tons (MT) of Sub-bitumi ...
Sunday, 10 May 15
FREIGHT RATES TO REMAIN SOFT NEXT WEEK
COALspot.com: The freight market was flat to soft week over week except for the Cape Index which was up 7.32%. Cape index was closed at 616 p ...
Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered f ...
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- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
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