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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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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
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