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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, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
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- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Economic Council, Georgia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
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