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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Planning Commission, India
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- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
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- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
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