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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, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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