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