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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
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- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
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