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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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Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
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