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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
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