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