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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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Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
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- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- McConnell Dowell - Australia
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