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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
Monday, 13 October 14
INDONESIAN COAL SWAPS FOR DELIVERY Q4' 2014 GAINED WEEK ON WEEK AND DAY ON DAY
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 gained week on week and day on day.
The swap lost US$ 0.13 (-0.25%) month on mon ...
Monday, 13 October 14
Q1' 2015 CFR SOUTH CHINA COAL SWAP CLOSED US$ 0.31 PMT HIGHER THAN Q4' 2014 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 0.66 (-1.00%) month over month and US$ 0.40 (-0.61%) ...
Sunday, 12 October 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE WEAK - VISTAAR
COALspot.com: This week all the segments softened. The BDI down 7.13 pct week on week and closed below 1000 points at 963 points.
The Cape ind ...
Saturday, 11 October 14
COAL PRODUCTION RISES ONLY SLIGHTLY AS GOVT LIMITS MINING OPERATIONS - THE JAKARTA POST
Indonesian coal production rose by only 4 percent in the first nine months of this year, a relatively low increase compared to previous years, as t ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Posco Energy - South Korea
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