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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
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