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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
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- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
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