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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
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