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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- The University of Queensland
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Deloitte Consulting - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
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