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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, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
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- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
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