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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, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
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