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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, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
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