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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
Tuesday, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
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- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- PTC India Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
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