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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, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
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- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- PTC India Limited - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
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