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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, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
Tuesday, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
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- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
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