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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
Monday, 26 August 13
CARRIAGE OF COAL CARGOES FROM KALIMANTAN, INDONESIA - WEST OF ENGLAND P&I CLUB
The Club has recently been advised by consulting scientists and engineers Dr J H Burgoyne and Partners (International) Limited that the number of in ...
Sunday, 25 August 13
API 8 CFR SOUTH CHINA COAL: HEADING TO NORTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 2.39 up month on month. The swap was moved positive ...
Sunday, 25 August 13
THE FREIGHT MARKET S7 & S8 SECTOR IS EXPECTED TO BE STEADY/FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market continued to be firm with all indices moved positive except for Panamax which was slightly down (2 pct down).
T ...
Friday, 23 August 13
US PRODUCED MORE COAL WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
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- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
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