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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$100 million from investors.
Source: The Straits Times
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Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
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- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
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