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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, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
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- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
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