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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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Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Aditya Birla Group - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
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