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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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Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Thursday, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
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- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
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