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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
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- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Minerals Council of Australia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
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