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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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Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
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- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
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