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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, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
Wednesday, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
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- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- PTC India Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
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