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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, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
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- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Central Electricity Authority - India
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