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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, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
...
Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
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