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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- Planning Commission, India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
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