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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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Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
Tuesday, 10 September 13
COAL EXPORTS AT AUSTRALIA'S NEWCASTLE PORT SLIP 30.31% ON WEEK TO 2.36 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port down 30.31 per cent week on week to 2.36 million mt f ...
Tuesday, 10 September 13
WORLDWIDE COAL CONSUMPTION RISES SHARPLY - RA DR. ERICH SCHMITZ
By: RA Dr. Erich Schmitz, Verein der Kohlenimporteure (Germany Coal Importers Association)
World hard coal market in the first half of 2013: worl ...
Monday, 09 September 13
REBOUND IN NEWBUILDING ORDERS HASN'T HURT DRY BULK MARKET PROSPECTS, BUT SHIP OWNERS SHOULD STILL BE CAUTIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Since the start of 2013 and up until the end of August, one thing has really caught the headlines in the dry bulk market, except of course, the frei ...
Sunday, 08 September 13
Q3 2014 THERMAL COAL SWAPS : STEADY DIRECTION
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery up 1.88 percent month on month. The swap was moved ...
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- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
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