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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
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- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
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- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
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- PTC India Limited - India
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- Altura Mining Limited, Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
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- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
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- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
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- Global Green Power PLC Corporation, Philippines
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- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
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- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Central Electricity Authority - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
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- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
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