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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
Monday, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
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Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
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- VISA Power Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
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