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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, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
...
Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
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- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
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