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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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Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
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