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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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Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
Tuesday, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
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- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Planning Commission, India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
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