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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
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