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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
Sunday, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
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- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
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