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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- The University of Queensland
- Anglo American - United Kingdom
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Economic Council, Georgia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
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