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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, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
Monday, 07 July 14
SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL SHIPPED 12% LESS COAL IN JUNE COMPARED TO MAY EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 4.91 million tons ...
Monday, 07 July 14
INDONESIAN SUB-BIT COAL SWAPS FOR Q3 DELIVERY CRASHES THROUGH $ 54.50
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 07 July 14
API 8 CFR SOUTH CHINA COAL SWAPS SHOW A DOWNWARD TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 drops US$ 5.47 month on month on Friday, dipping under $68 a ton. The CFR South Ch ...
Sunday, 06 July 14
PANAMAX INDEX BEING THE BIGGEST GAINER THIS WEEK; UP 52.75% W-O-W
COALspot.com: This week there was some positive signs in all the sectors. The Panamax index being the biggest gainer this week after losing for sev ...
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- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Planning Commission, India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
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