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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, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Dalmia Cement Bharat India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
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