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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
Monday, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
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- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
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