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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
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- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
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