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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, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
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- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- The University of Queensland
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
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