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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, 29 September 14
INDONESIAN COAL EXPORT VOLUME FALL IN AUGUST
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Monday, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
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- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
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