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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
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- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- The University of Queensland
- Planning Commission, India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
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- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
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- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Thai Mozambique Logistica
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