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