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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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Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
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 fell ...
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- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- PTC India Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Rio Tinto Coal - Australia
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