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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
Wednesday, 20 November 13
TAIPOWER TO IMPORT 0.825 MMT OF 5000 GAR COAL FOR Q2' 14
COALspot.com: Taiwan Power Company intends to procure 825,000 metric tons of general sub-bituminous coal with calorific value not lesser than 5,000 ...
Wednesday, 20 November 13
CAPES AND PANAMAXES SOFTENING; SMALLER SIZE SEGMENTS FIRMING FURTHER - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable- )
The BDI has closed off the week on the red, with rates for Capes and Panamaxes softening and those fo ...
Tuesday, 19 November 13
INDONESIAN GOVERNMENT'S DECLARED COAL PRICE REFERENCE UP 1.98% IN NOVEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.52 / MT ...
Tuesday, 19 November 13
WEEKLY COAL EXPORTS FROM NEWCASTLE PORT INCREASED BY 20.59%
COALspot.com: In the week ended November 18, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.92& ...
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- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
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