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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
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