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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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Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
Thursday, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
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- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
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