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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
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- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Parliament of New Zealand
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
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