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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, 28 July 14
Q3' 14, SUB-BIT FOB INDONESIA COAL SWAP GAINED $ 0.08 DAY ON DAY AND $ 0.68 WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 increased by just US$ 0.08 day on day and US$ 0.68 week on week. The swap was lost U ...
Monday, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
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- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
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- Economic Council, Georgia
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- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
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- Altura Mining Limited, Indonesia
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- Australian Coal Association
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- Standard Chartered Bank - UAE
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- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
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- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
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- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
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- Maharashtra Electricity Regulatory Commission - India
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- Baramulti Group, Indonesia
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- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
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- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
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- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
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- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
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- Aditya Birla Group - India
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- Interocean Group of Companies - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
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- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
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- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
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- Therma Luzon, Inc, Philippines
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- Cement Manufacturers Association - India
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- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
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