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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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Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
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- Bahari Cakrawala Sebuku - Indonesia
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- Australian Commodity Traders Exchange
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- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
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- Singapore Mercantile Exchange
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
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- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
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- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
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- Antam Resourcindo - Indonesia
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- Oldendorff Carriers - Singapore
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- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
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- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
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- Sarangani Energy Corporation, Philippines
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- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
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- Parliament of New Zealand
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- Madhucon Powers Ltd - India
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- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
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- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
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- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
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- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
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- Latin American Coal - Colombia
- ICICI Bank Limited - India
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- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
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- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
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- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
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- Baramulti Group, Indonesia
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- Jorong Barutama Greston.PT - Indonesia
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- Uttam Galva Steels Limited - India
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- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
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- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
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- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
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- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
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- Formosa Plastics Group - Taiwan
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- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
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- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Australian Coal Association
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- Independent Power Producers Association of India
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