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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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Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
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- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
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