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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, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
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- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
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