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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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Showing 5911 to 5915 news of total 6871 |
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- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
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