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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, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
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- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
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