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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
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- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
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