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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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Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
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- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
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