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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
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