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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, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
Tuesday, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
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- Parliament of New Zealand
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Planning Commission, India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
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