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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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Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
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- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- VISA Power Limited - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
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