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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
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