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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, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
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- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
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