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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, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
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- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Australian Coal Association
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
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