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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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Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Latin American Coal - Colombia
- The University of Queensland
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
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