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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
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- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
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