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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
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