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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$100 million from investors.
Source: The Straits Times
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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- PTC India Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
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