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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, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
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- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
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- Eastern Coal Council - USA
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- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
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- White Energy Company Limited
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- SMG Consultants - Indonesia
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- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
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- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
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- Altura Mining Limited, Indonesia
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- Agrawal Coal Company - India
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- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
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- Mintek Dendrill Indonesia
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- Economic Council, Georgia
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- Malabar Cements Ltd - India
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- Indogreen Group - Indonesia
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- London Commodity Brokers - England
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
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- Banpu Public Company Limited - Thailand
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Jorong Barutama Greston.PT - Indonesia
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- International Coal Ventures Pvt Ltd - India
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- Rio Tinto Coal - Australia
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- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
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- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
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- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
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- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
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- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
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- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
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