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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
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- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Planning Commission, India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
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