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