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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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- Economic Council, Georgia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- The University of Queensland
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
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