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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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Friday, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- The University of Queensland
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Australian Coal Association
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
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