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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 $19.5 billion tie-up with state-owned Chinese metals firm Chinalco after several delays to the Australian approval process.
And last month, China Nonferrous Metal Mining (Group) Co Ltd dropped its bid for Australian rare-earths company Lynas Corp, citing stiff conditions imposed by Australia.
But that has not deterred China from pursuing more acquisitions. Australia's Foreign Investment Review Board has been flooded with applications, including Chinese state-owned Sinochem's bid for farm chemicals group Nufarm Ltd and Baosteel's plan to buy 15 percent of iron ore explorer Aquila Resources.
Last month, FIRB general manager Patrick Colmer said the board wanted to limit foreign investments in start-up projects to less than 50 percent and in major mining firms to 15 percent.
Source: Reuters
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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