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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
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- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
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