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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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Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
Thursday, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
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- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Planning Commission, India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
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