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