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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, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
Tuesday, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
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- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
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