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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
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