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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
Tuesday, 15 October 13
NEWCASTLE PORT SHIPPED 6.50% MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 6.50 per cent week on week to 3.19 million mt for ...
Monday, 14 October 13
MEMR OF INDONESIA SETS THE COAL'S SPOT PRICE AT US$ 76.61 FOR OCT'13 DELIVERY
COALspot. com - The Indonesian government has revised down government declared coal bench mark price by US$ 0.28/ MT to US$ 76.61 for October 2013 d ...
Monday, 14 October 13
CARBON POLICIES UNLIKELY TO PREVENT A COAL-FUELLED WORLD - WOOD MACKENZIE
China will propel coal growth but US, Europe and Asia will sustain global demand.
At the World Energy Congress (WEC) today Wood Mackenzie's Pres ...
Sunday, 13 October 13
Q4'13 DELIVERY SUB-BIT INDO COAL SWAP FALLS SEVEN STRAIGHT WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 1.72 percept month on month on Friday 11 October 201 ...
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- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
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