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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, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
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- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
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- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
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- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
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- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
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- New Zealand Coal & Carbon
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- PNOC Exploration Corporation - Philippines
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- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
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- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
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- Marubeni Corporation - India
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- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
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- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
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- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- The University of Queensland
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- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
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- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Pipit Mutiara Jaya. PT, Indonesia
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- Energy Link Ltd, New Zealand
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- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
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- Star Paper Mills Limited - India
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- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
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- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
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