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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
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- Minerals Council of Australia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- The University of Queensland
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Planning Commission, India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Australian Coal Association
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Indonesian Coal Mining Association
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