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