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Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
 Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore Coal.
GEAR is acquiring a 19.9 per cent stake in coking coal-focused Stanmore for A$47.6 million in cash, with plans to eventually transfer that interest to a 51 per cent joint venture that is offering up to A$201 million for all the remaining shares of Stanmore.
The offer by joint venture Golden Investments (Australia), which GEAR has set up with Ascend Global Investment Fund, is pegged at A$0.95 per Stanmore share. After the offer closes, Golden Investments will acquire GEAR's 19.9 per cent Stanmore stake for a number of Golden Investments shares equal to the cash amount that GEAR paid for the Stanmore shares. GEAR is acquiring the Stanmore shares from Greatgroup Investments, Stanmore's largest shareholder.
The volume weighted average price (VWAP) of Stanmore Coal's shares for all trades done on 16 Nov - the last full day of trading before the announcement - was approximately A$0.8597 per share.
Explaining the acquisition, coal producer GEAR said: "By acquiring an interest in Stanmore Coal, a primarily coking coal focused company, GEAR hopes to enhance its overall asset portfolio in the current commodity price environment by diversifying and expanding its coal product suite and geographical presence."
GEAR and Ascend Global have agreed to fund Golden Investments' bid by subscribing for additional Golden Investments shares. GEAR has agreed to subscribe for shares totalling up to A$79.25 million, while Ascend Global will subscribe for up to A$121.88 million of shares only if Golden Investments is able to obtain control of at least 51 per cent of Stanmore.
Based on Stanmore Coal's FY18 results, the net asset value (NAV) and net tangible assets (NTA) of the sale shares translating to the 19.9 per cent stake are about A$14.56 million and approximately A$13.81 million respectively, as at June 30. Meanwhile, the NAV and the NTA of the shares under the offer (attributable to GEAR's 31.9 per cent stake in Golden Investments before the transfer of the sale shares) are approximately A$23.31 million and A$22.11 million respectively as at June 30.
Based on Stamford Coal's financial year 2018 results, the net profit before income tax, minority interests and extraordinary items attributable to the sale shares is A$2 million; while the same profit for the shares under the offer is approximately A$3.20 million.
Golden Investments' shareholders will fund their respective subscriptions in Golden Investments through a combination of existing cash reserves, GEAR's finance facility of up to A$150 million and via Ascend Global's undrawn capital commitments of US$100 million from investors.
Source: The Straits Times
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Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
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- Singapore Mercantile Exchange
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- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
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- Petron Corporation, Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
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- The Treasury - Australian Government
- The University of Queensland
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- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
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- Essar Steel Hazira Ltd - India
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- Kumho Petrochemical, South Korea
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- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
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- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
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- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Tamil Nadu electricity Board
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- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
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