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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, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
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- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
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