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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, 07 May 13
NEWCASTLE PORT'S COAL EXPORTS HOLD STEADY WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,975,160 tons of thermal and coking coal for week ended 0700 hours 6 May 2013, Newcastl ...
Monday, 06 May 13
INDONESIAN COAL PRICE REFERENCE FALLS CONTINUE
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $ 3.23 / MT in May 2013.
The monthly coal pr ...
Sunday, 05 May 13
SUB-BIT FOB INDONESIA COAL - MIXED TREND; API 8 CFR SOUTH CHINA COAL - POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.28 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 04 May 13
INDONESIA TO INDIA PANAMAX FREIGHT : FLAT TO SOFT - CAPT. REDDY
COALspot.com - The demand for iron ore picked up and its pushed up the cape size index by 7.86 pct. Cape index closed at 1,344 points. The BDI ...
Friday, 03 May 13
US PRODUCED 17.9 MILLION SHORT TONS (MMST) OF COAL IN A WEEK
COALspot.com - U.S. produced totaled approximately 17.9 million short tons (mmst) in a week (For the week ended April 27, 2013), EIA said in its lat ...
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- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
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