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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, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
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- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
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