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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
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- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
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