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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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
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- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- White Energy Company Limited
- VISA Power Limited - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- The Treasury - Australian Government
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
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