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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, 21 January 14
PORT OF NEWCASTLE SHIPPED SLIGHTLY MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 20 January 14, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2. ...
Monday, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
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- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Parliament of New Zealand
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
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