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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
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- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
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- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
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