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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
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- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
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