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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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Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
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- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Romanian Commodities Exchange
- Australian Coal Association
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
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