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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 20 January 15
INDIA TO SURPASS THE UNITED STATES AND BECOME THE SECOND-LARGEST COAL CONSUMER IN THE WORLD BY 2019 - IMF
COALspot.com: In 2013, coal added more primary energy than any other fuel and was the fastest-growing fossil fuel, enhancing its position as the se ...
Tuesday, 20 January 15
INDONESIAN COAL OUTPUT SEEN RISING, DESPITE FALL IN ITS PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week, but Indonesian Coal Output Seen Rising. T ...
Tuesday, 20 January 15
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY DECLINED 2.83% M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 1.45 per MT (-2.83%) month over month and US$ 0.50 (-0.99%) we ...
Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. T ...
Monday, 19 January 15
CFR SOUTH CHINA COAL SWAPS REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 3.37 (-5.63%) per MT month over month and US$ 0.74 (-1.29%) ...
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- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
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- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
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- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
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