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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
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- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Videocon Industries ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
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