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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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Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
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- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
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