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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
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 ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
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- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
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- Billiton Holdings Pty Ltd - Australia
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- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
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- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
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- Altura Mining Limited, Indonesia
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- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
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- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
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- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
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- Central Electricity Authority - India
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- Coal and Oil Company - UAE
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- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
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- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Indian Oil Corporation Limited
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- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
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- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
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- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
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- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
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- Power Finance Corporation Ltd., India
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- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- The University of Queensland
- New Zealand Coal & Carbon
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- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
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