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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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Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Friday, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would h ...
Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
Handy
We are experiencing an oversupply of tonnage in the Atlantic which is out numbering the amount of cargoes, Fearnleys broker says in its lat ...
Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
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- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Mercator Lines Limited - India
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