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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$100 million from investors.
Source: The Straits Times
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Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
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- Bulk Trading Sa - Switzerland
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- Tata Chemicals Ltd - India
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- Electricity Authority, New Zealand
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- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
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- Mintek Dendrill Indonesia
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- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
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- Samtan Co., Ltd - South Korea
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- Planning Commission, India
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- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
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- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
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- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
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- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
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- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
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- Altura Mining Limited, Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
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- Power Finance Corporation Ltd., India
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- ASAPP Information Group - India
- Indian Oil Corporation Limited
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- International Coal Ventures Pvt Ltd - India
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- Bhushan Steel Limited - India
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- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- The University of Queensland
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- Merrill Lynch Commodities Europe
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- Jaiprakash Power Ventures ltd
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- Kaltim Prima Coal - Indonesia
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- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
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