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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, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
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- Aditya Birla Group - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- White Energy Company Limited
- The University of Queensland
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
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