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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
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