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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
Tuesday, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
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