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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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Thursday, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
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- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
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