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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, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
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- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
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