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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, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
Friday, 12 July 13
U.S. PRODUCED 18.40 MMST COAL WEEK ENDED 6 JULY 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.40 million short tons (mmst) of ...
Thursday, 11 July 13
PANAMAX: PACIFIC ROUND PAY AROUND $6,500/D; ATLANTIC ROUND VOYAGE PAY AROUND US$ 10,000/D - FEARNLEYS AS
Handy
The Feast market is quiet, July date cargoes remain unfixed as there is a gap between what owners aiming and charterers willing to pay. There ...
Wednesday, 10 July 13
DRY BULK MARKET IS STILL STRUGGLING TO SURVIVE - INTERMODAL
COALspot.com : With the first half of the year now behind us and, as expected, most shipping segments in the dry bulk market are struggling to survi ...
Tuesday, 09 July 13
COAL PRICE REMAINS SLUGGISH - TRIMEGAH
COALspot.com - Newcastle coal price has reached US$ 76.30/ton (-15.9% YTD), bringing YTD’13 average to stand at US$ 87.90/ton, 6.80% lower tha ...
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- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
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