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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Tuesday, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
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- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
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