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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, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
Tuesday, 22 October 13
KOWEPO INVITED BIDS FOR MULTI GRADE COAL
COALspot.com - Korea Western Power Co., Ltd. (KOWEPO), a Korean electricity generator intends to procure 240,000 tons of multi grade coal for its Ta ...
Monday, 21 October 13
SOUTH CHINA COAL SWAP FOR 2014 DELIVERIES SHOW A POSITIVE TREND
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.02 percept M-M on Friday 18 October 2013. The CFR South China Co ...
Sunday, 20 October 13
Q3'14 SUB-BIT INDO COAL SWAP CLOSED AT $ 61.80 PMT W/E 18 OCT' 13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 0.93 percept month on month on Friday 18 October 201 ...
Saturday, 19 October 13
NICKEL ORE SHIPMENTS KEEP SUPRAMAX CHARTER RATES STEADY - CAPT. REDDY
COALspot.com : The futures freight market continued to go down which was reflected in the physical markets as well.
The BDI continued to be soft ...
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- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
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