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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, 09 July 13
NEWCASTLE COAL EXPORTS JUMP 27.53% ON WEEK TO 2.97 MILLION MT
COALspot.com - Newcastle Coal exports up 27.53% to 2.97 million tons W-o-W.
Newcastle port in Australia has loaded 2,974,715 tons of coal for the ...
Tuesday, 09 July 13
CAPESIZE: SHOT UP; PANAMAXES: NOT SO LUCK; SUPRAS: SLIGHTLY BETTER; HANDIES: SOFT - INTERMODAL
COALspot.com : June 2013 Recap
A renewed Capesize market this month (June 2013) was the cause for much of the overall noteworthy performanc ...
Tuesday, 09 July 13
THE 11TH DEEP COAL PROCESSING FORUM 2013
Press Release : The 11th Deep Coal Processing Forum 2013 will be held in November Beijing China.
CDMC Events is pleased to announce that 11 ...
Monday, 08 July 13
ECO-FRIENDLY COAL FOR CHINA - VALUE FOR THE ENVIRONMENT AND VALUE FOR THE POWER GENERATOR - BY: LINDSAY JUNIPER
COALspot.com : January 2013 saw an episode of extreme particulate pollution in Beijing 35 times worse than the safe level recommended by the World H ...
Sunday, 07 July 13
FREIGHT MARKET IS EXPECTED TO BE SOFT TO STABLE NEXT WEEK- VISTAAR
COALspot.com - The freight market softened for the week ended 5 July 2013, and experienced a decline in all sectors, including BDI. Bulk dry Index d ...
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- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- The University of Queensland
- Planning Commission, India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
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