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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
 * Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, Australia approved Chinese firm Yanzhou Coal Mining Co's $2.9 billion takeover of coal-miner Felix Resources Ltd on Friday, but said the local firm's assets must be run by an Australia-based company.
The deal is also conditional on listing the local unit on the Australian market and trimming Yanzhou's holding, but it does not change Australia's declared bias against takeovers of greenfield resource projects or major mining companies.
"I won't say this is a dramatic shift in government policy," said Ian Ramsay, a law professor of University of Melbourne.
"We are seeing government policy evolve in relation to foreign investment decisions and that is certainly the case in relation to investments by Chinese companies in Australian resources sector."
Chinese state-owned companies have been looking to buy up Australian mining assets to secure supplies of raw materials for its rapidly growing economy, the world's third largest.
But bilateral ties have been strained by Canberra's opaque and sometimes lengthy process for vetting foreign investments, with some high-profile deals falling through before a decision is reached or after strict conditions have been imposed.
"The government is looking for an acceptable middle ground. This does send a pretty positive message and I say this because these are not unduly onerous undertakings," Ramsay said.
LOCAL LISTING, EXECUTIVES
The Australian government has stipulated that Yanzhou Coal must list the local unit on the Australian stock market by 2012 and cut its ownership to less than 70 percent, Assistant Treasurer Nick Sherry said in a statement.
Sherry said Yanzhou had already accepted these conditions, as well as promised to base the local unit's chief executive and chief financial officer in Australia.
Yanzhou further agreed to market coal produced at all of its Australian mines "on arms-length terms with reference to international benchmarks and in line with market practices."
Felix, which has mines in Queensland and New South Wales states, produced 4.8 million tonnes of coal in the year to June. Analysts expect the deal to boost Yanzhou's output by about 10 percent.
"With these undertakings provided by Yanzhou, I consider that this acquisition is consistent with Australia's national interest," Sherry added.
In March, Canberra rejected Chinese state-owned firm Minmetals' $2.26 billion bid for all of local miner OZ Minerals on national security grounds.
Other mooted deals have also been derailed.
Anglo-Australian miner Rio Tinto walked away from a $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- The University of Queensland
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
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