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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, 25 June 13
NEWCASTLE PORT SHIPPED OUT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,101,378 tons of coal for the week ended 0700 hours 24 June 2013, Newcastle Port Corp. ...
Monday, 24 June 13
INDONESIA COAL SWAP FOR AUGUST 2013 DELIVERY GAINS WEEK ON WEEK
COALspot.com – Coal prices for immediate supply contracts have started moving up, but prices for next year supply shows a negative trend ...
Sunday, 23 June 13
BDI CROSSED ITS PSYCHOLOGICAL BARRIER THIS WEEK - VISTAAR
COALspot.com : The BDI crossed the psychological barrier of 1000 points after many months and closed at 1,027 points, which were up by 14.11 pct wee ...
Sunday, 23 June 13
SHIP PRICES NOT FOLLOWING FREIGHT MARKET FUNDAMENTALS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although it's been the case in many occasions in the past, it appears that ship prices haven't been quite following freight market fundamentals, i ...
Friday, 21 June 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 19.70 million short tons (mmst) of ...
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- Gujarat Sidhee Cement - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- PTC India Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
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