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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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Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
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- Economic Council, Georgia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
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