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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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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Parliament of New Zealand
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
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