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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
Monday, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
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- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
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