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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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
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- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
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