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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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Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
Wednesday, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
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- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
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- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
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- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
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- Directorate Of Revenue Intelligence - India
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- Energy Link Ltd, New Zealand
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- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
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- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Ministry of Mines - Canada
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
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- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
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- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
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- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
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- SMC Global Power, Philippines
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- Indian Energy Exchange, India
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- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
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- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
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- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
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- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
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- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
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- Bhatia International Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
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- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
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- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
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- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
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- Essar Steel Hazira Ltd - India
- PTC India Limited - India
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- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
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- Attock Cement Pakistan Limited
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
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- Bahari Cakrawala Sebuku - Indonesia
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