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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
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- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Planning Commission, India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
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