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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, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
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- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
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