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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
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