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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, 13 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMP 30.61 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 30.61 per cent week on week to 2.95 million mt for ...
Monday, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
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- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- The University of Queensland
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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