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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, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- PTC India Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bhatia International Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
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