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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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Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
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- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Minerals Council of Australia
- The University of Queensland
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- SMC Global Power, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
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