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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- Planning Commission, India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
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