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