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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, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
Sunday, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
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- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- The University of Queensland
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
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