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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
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- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
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