We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
 Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fear of exhausting reserves and failing to meet the needs of the fast expanding economy. At the same time, the National Energy Administration director, Zhang Guobao, has encouraged Chinese mining enterprises to pursue mergers and acquisitions at home and abroad in order to consolidate and modernise the disjointed mining industry and to increase coal imports. The news comes at a time when the global mining sector is witness to record annual M&A transactions. According to Dealogic, over $47.1bn has changed hands in 2010, through 968 deals. China was the target of a record $11.6bn of these deals.
Imports and exports
China’s love affair with coal began amidst the industrialisation of the 1950s, and the country has depended heavily on the fossil fuel ever since. Ninety-seven percent of China’s coal is consumed in power generation, industry, coking, and residential use and heating.
Of these, power supply needs dominate. According to the US Geological Survey (USGS), two-thirds of Chinese electricity generation is from coal-fired plants and power generation accounts for half of China’s coal use.
The pace of Chinese industrial growth saw the country move from being a net exporter of 1.8 million tonnes in 2008, to a net importer of 103 million tonnes in 2009. It is the second largest user of coal next to the US, accounting for 41 percent of the world’s total consumption, and is by far the world’s largest producer of the fuel. Despite this, China’s domestic mining industry is challenged by lack of centralisation, inefficiency and overburdened transport links. Frequent industrial accidents and environmental issues are also major problems.
Domestic and outbound deals
To modernise its mining industry the Chinese government aims to shut down a large proportion of its 11,000 small coal mines while encouraging state owned and private coal mine enterprises to initiate mergers and acquisitions.
Yanzhou Coal Mining Co. recently revealed plans to buy a 51 percent stake in the Inner Mongolia-based Haosheng Coal Mining Ltd. for $980m, and Aluminum Corporation of China will invest $80.5m to establish Shanxi Xiuxin Gugou Coal (Group), merging the assets of five coal companies. The newly established group will have coking coal reserves of 300 million tons which are expected to last up to 75 years.
The government also aims to secure imports through a program of cross-border M&A. In the three years to September 2010, Chinese companies spent $20.96bn on overseas coal industry acquisitions, and activity has continued since the government’s announcement. Australia has been a particularly prized target for Chinese firms of late.
Yanzhou bought Australia’s Felix Resources Ltd. for $2.9bn in August 2009 and has actively been scanning the market for additional acquisitions, particularly coking and thermal coal operations. In November 2010 China Coal Geology Engineering Corp and Wanbei Coal-Electricity Group partnered to explore and develop coal resources in Queensland. They expect to uncover 10 billion tonnes of reserves. November also saw Australia’s Caledon Resources agree to be bought by the Chinese state-owned investment group Guangdong Rising Assets Management Co for £252m.
Global interest
Companies around the world have caught wind of China’s resource fears, and are scrambling to meet the demand. On 16 November, Nat Rothchild’s Vallar paid $3bn for 25 percent of Indonesian coal producer PT Bumi Resources and 75 percent of PT Berau Coal Energy. Just days later, the US coal miner Walter Energy bid $3.2bn for Canada’s Western Coal, with the intention of supplying the Chinese market.
Plenty of others are cashing in too. Caterpillar has spent $8.6bn buying US-based Bucyrus, a manufacturer of excavators used in opencast coal mines. The firm has said the coal industry is one of the principal growth markets that they are now targeting.
Australia has remained a prime target for foreign companies seeking to benefit from growing prices and sales to Asia. 2010 saw $6.7bn of coal acquisitions in the country, compared to $5.9bn for the whole of 2009.
The US is also becoming a major playing field for coal industry M&A deals, due in part to the relatively low price of its thermal coal. Privately held, Alabama-based Drummond and Co. is taking bids for its mines in North Columbia, expecting to fetch up to $8bn. Several other good-sized companies are expected to become involved in M&A including Consol Energy, Alpha Natural Resources and Arch Coal.
China’s lack of oil and gas reserves makes it difficult for the country to move away from coal, though the country has begun to address this over-reliance through imports and acquisitions of other resources. However, with newly installed coal-fired power plants now coming on line, it seems that China will remain heavily dependent on coal production and imports for the foreseeable future, and this will continue to drive overseas acquisitions of mining firms and coal assets.
Source: Financier World Wide
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
|
|
|
Showing 5481 to 5485 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
|
| |
| |
|
