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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, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Planning Commission, India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
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