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Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
 STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks to expand its capacity to supply fuel to a fast-growing Asian market.
The hostile bid follows an earlier offer from St. Louis-based Peabody that was likewise turned down by Macarthur's board.
"Peabody's proposal is highly conditional and does not fully value Macarthur and its significant growth prospects," Macarthur Chairman Keith DeLacy said Wednesday in a statement.
Peabody, the world's largest private-sector coal company, has rapidly expanded operations in Australia since buying its first mine there six years ago. Last year, the company said it plans to double coal exports from the country by 2014.
The company on Wednesday said it is "disappointed" with the initial rejection and believes Macarthur's assets and growth prospects are a good fit with its existing Australian operations.
Brisbane-based Macarthur produced about 4.6 million tons of so-called metallurgical coal last year from two Queensland mines and is in the midst of an expansion. The company, which owns 145 million tons of reserves, supplies coal to steel mills in Asia, Europe and Brazil.
Peabody's offer values Macarthur at about $680 per ton of production and $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
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- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- The University of Queensland
- ASAPP Information Group - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- The Treasury - Australian Government
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