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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, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
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- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
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