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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, 14 May 13
KALIMANTAN COAL
Press Release : After a very successful conference in 2012, the second annual event will address latest market developments and address the future p ...
Tuesday, 14 May 13
NEWCASTLE PORT'S COAL EXPORTS FALL 6.83 PERCENT
COALspot.com - Newcastle port in Australia has loaded 2,771,891 tons of thermal and coking coal for week ended 0700 hours 13 May 2013, Newcast ...
Monday, 13 May 13
SGX ASIACLEAR OTC COAL SWAPS : RELATIVELY STABLE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.15 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 11 May 13
INDONESIA TO INDIA COAL FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK
COALspot.com - This week the market remained flat compared to last week. BDI slightly up 0.68 pct and closed at 884 points and the cape size index u ...
Friday, 10 May 13
U.S. PRODUCED TOTALED APPROXIMATELY 18.5 MMST OF COAL W/E 4 MAY 2013
COALspot.com - U.S. produced totaled approximately 18.5 million short tons (mmst) of coal in a week (For the week ended 4 May, 2013), EIA said in it ...
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- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
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