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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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Tuesday, 29 October 13
NEWCASTLE PORT SHIPPED 12.29 PER CENT MORE COAL W-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.29 per cent week on week to 3.61 million mt for ...
Monday, 28 October 13
API 8 CFR SOUTH CHINA COAL FOR Q3'14 DELIVERY LOST ON D-D,W-W & M-M
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.22 percept M-M on Friday 25 October 2013. The CFR South China Co ...
Monday, 28 October 13
COAL SWAP FOR Q3' 2014 DELIVERY LOST ON D-D, W-W AND M-M
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.46 percept month on month on Friday 25 October 2 ...
Saturday, 26 October 13
PANAMAX CHARTER RATES FROM INDONESIA TO INDIA STAY FIRM - SOLYM
COALspot.com: The freight market showed tendency of softness with Cape and Panamax futures and physical soft.
The BDI was down by 12 pct week end ...
Saturday, 26 October 13
DRY BULK MARKET KEEPS ON RETREATING, BUT NEW BUILDING ORDERS KEEP ON PILING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market kept on retreating this week, with the industry's benchmark, the Baltic Dry Index (BDI) falling to 1,708 points, down 78 on the ...
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- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
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