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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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Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
Friday, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
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- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Videocon Industries ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Planning Commission, India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Indonesian Coal Mining Association
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