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