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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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Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
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 fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- White Energy Company Limited
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
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