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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, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
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- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
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