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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- The University of Queensland
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
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