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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, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
Thursday, 06 February 14
PANAMAX: FAR EAST IS ALMOST ABSENT AND ATLANTIC ON SLOW STEAM
Handy
Due to ongoing Chinese New Year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/ ...
Wednesday, 05 February 14
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market has lost further ground this past week as activity ex-Far East disappeared into the Chinese holidays and owners id ...
Wednesday, 05 February 14
MARKET INSIGHT - TASOS PAPADOPOULOS
KNOWLEDGE TO ELEVATE
COALspot.com: Let's take a break from market prospects, numbers, order book etc. and shed some light on the conclusions of ...
Tuesday, 04 February 14
NEWCASTLE PORT'S WEEKLY COAL EXPORTS HIT NEW HIGH OF 3.53 MMT
COALspot.com: In the week ended 3 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
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