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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
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