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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- The University of Queensland
- The Treasury - Australian Government
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
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