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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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Monday, 16 September 13
WHAT RECOVERY MEANS FOR THE CAPESIZE MARKET - COMMODORE RESEARCH
COALspot.com: The simple fact that capesize rates have been able to increase above the $9,000/mark and become much more responsive to changes in car ...
Monday, 16 September 13
CFR SOUTH CHINA COAL SWAP: STABLE TO STEADY
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 16 September 13
INDONESIAN SUB-BIT COAL SWAP STRUGGLING TO FINDS THE RIGHT PATH
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 0.75 percept month on month on Friday 13 Septe ...
Sunday, 15 September 13
CAPE FREIGHT RATES RISE ON HIGH DEMAND AND TIGHT AVAILABILITY - CAPT. REDDY
COALspot.com : The BDI, Cape and Panamax indices are continued to rise and saw a steep surge with average index in these segments up around 25 pct w ...
Friday, 13 September 13
US COAL OUTPUT SLIPS 3.34% ON-WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.20 million short tons (mmst) of ...
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- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
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- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
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- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
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- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- White Energy Company Limited
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
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