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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, 04 June 13
NEWCASTLE PORT SHIPPED 2.56 MILLION TONS OF COAL IN A WEEK
COALspot.com - Newcastle port in Australia has loaded 2,563,596 tons of coal for week ended 0700 hours 3 June 2013, Newcastle Port Corp. said ...
Tuesday, 04 June 13
WOOD MACKENZIE SAYS THE CHINA'S THERMAL COAL DEMAND WILL REACH NEARLY 7BTPA BY 2030
COALspot.com - The Illusion of Peak Coal' says that despite efforts to limit coal consumption and seek alternative fuel options, China's strong ap ...
Saturday, 01 June 13
COAL PRICES STRUGGLE TO FIRM UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.18 percent week on week and 0.03 percent ...
Saturday, 01 June 13
THE FREIGHT MARKET FOR S7 AND S8 SECTORS ARE EXPECTED TO BE SOFT - VISTAAR
COALspot.com – The freights are remains weak week ended 31 May 2013, as BDI fell 2.05 pct and closed at 809 points on 31 May 2013.
The Cape ...
Friday, 31 May 13
US PRODUCED 18.5 MILLION SHORT TONS OF COAL W/E 25 MAY 2013
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 18.50 million short tons (mmst) of ...
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- Thai Mozambique Logistica
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
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