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11 Pages

Global coal corporate activity - A review of 2013 and outlook for 2014


Global coal corporate activity - A review of 2013 and outlook for 2014

Report summary

Announced coal transaction spend increased 10% in 2013 to US$8.6 billion, after a stronger second-half that accounted for 80% of the total. The recovery however, is still fragile - had it not been for two deals in excess of a billion dollars in the United States and Australia, deal spend would have halved. The continued fall in thermal and metallurgical coal prices weighed on confidence to undertake deals. The number of deals announced however, increased significantly. 

What's included?

This report includes 2 file(s)

  • Global Coal Corporate Activity - A review of 2013 and outlook for 2014 PDF - 887.39 KB 11 Pages, 0 Tables, 18 Figures
  • Global corporate activity A review of 2013 and outlook for 2014.xls XLS - 10.93 MB

Description

This Coal Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

Participants, suppliers and advisors can use it to look at the trends, risks and issues within the coal industry and gain an alternative point of view when making decisions.

Wood Mackenzie is the only coal industry service provider that offers a market outlook integrated with other sector analyses, including macroeconomics, coal supply, steel markets and gas and power markets.

Our coal analysts are based in the markets they analyse. They work with objective, proprietary data to help you maximise your current and future decision making. From market dynamics to trade patterns, we give you confidence in your strategic planning.

  • Executive Summary
  • Global spending up 10% in 2013, smaller deals in focus
  • Thermal coal operating asset sales dominate, project acquisition spend at five year low
  • Asset deals dominate, company activity at five year low
    • Share of disclosed acquisition spend by buyer location
  • Strategic/end-user buyer activity spend at five-year low, however activity increases
  • Price discounts for the taking, if you can secure a deal
  • Deal implied prices fall further in 2013
    • Implied long-term (adjusted) coal price (deal by deal) vs. Newcastle export thermal coal spot price
    • Implied long-term (adjusted) coal price (deal by deal) vs. Coking Coal Queensland Index (CCQ) and Argus
  • M&A to remain subdued in 2014, but are we at a turning point?
    • Non-core asset sales still in focus
    • Buyers will remain hard to find
    • Currency movements, cost cutting create regional opportunities

In this report there are 18 tables or charts, including:

  • Executive Summary
  • Global spending up 10% in 2013, smaller deals in focus
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 1
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 2
  • Thermal coal operating asset sales dominate, project acquisition spend at five year low
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 3
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 4
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 5
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 6
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 7
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 8
  • Asset deals dominate, company activity at five year low
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 9
    • Disclosed acquisition spend by deal by target region
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 11
  • Strategic/end-user buyer activity spend at five-year low, however activity increases
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 12
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 13
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 14
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 15
  • Price discounts for the taking, if you can secure a deal
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 16
  • Deal implied prices fall further in 2013
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 17
    • Global coal corporate activity - A review of 2013 and outlook for 2014: Image 18
  • M&A to remain subdued in 2014, but are we at a turning point?
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