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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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- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- VISA Power Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Indika Energy - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
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