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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 05 August 13
INDO GOVERNMENT'S DECLARED HBA IN AUGUST '13 FALL TO LOWEST LEVEL SINCE JANUARY '10
COALspot. com - HBA fell to US$ 76.70 this month, the lowest since January 2010. Indonesian Coal Price Reference fell 6.11% and hitting a 2013 ...
Sunday, 04 August 13
COAL SWAP MARKET HAS LOST DIRECTION; STRUGGLING TO CATCH UP
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average October 2013 delivery slightly down on day, week and month on Friday, 2 A ...
Sunday, 04 August 13
INDONESIA TO INDIA SUPRAMAX FREIGHT SOFT DUE TO HOLIDAYS IN INDONESIA - VISTAAR
COALspot.com : The freight market was fairly steady this week with the BDI recovering towards north since second half of the week with the support o ...
Friday, 02 August 13
DRY BULK MARKET STABILIZES ON RENEWED MARKET ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its positive footing this week, although it's still a far cry to deem the market situation as a growing one, especiall ...
Friday, 02 August 13
ASIA ACCOUNTS FOR 27.95 PERCENT OF US COAL EXPORTS IN Q1, 2013
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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- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- White Energy Company Limited
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
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