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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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Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
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- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Australian Coal Association
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- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- International Coal Ventures Pvt Ltd - India
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