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Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
 The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although facing land permit problems on a site controlled by its subsidiary, PT Jorong Barutama Greston.
ITMG president director Somyot Ruchirawat told reporters after a shareholders meeting in Jakarta that the land permit problem in South Kalimantan would slightly affect the subsidiary’s coal output.
“Jorong will contribute 2 million tons of coal this year, down from 3.1 million tons a year earlier,” he said.
Jorong is said to have received a permit from the forestry ministry for operating its site but has yet to adhere to a government regulation on spatial planning.
Regardless of this, Somyot said ITMG would be able to produce 23 million tons of coal this year, up from 21 million tons last year, thanks to increased output from other subsidiaries: PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Kitadin Embalut and PT Bharinto Ekatama.
To fulfill production targets, according to Ruchiwarat, ITMG will optimize its production from existing coal mines including a site controlled by Bharinto, which will reach the production stage in April.
Trubaindo is expected to contribute 6 million tons of coal this year, while Indominco will contribute 13.2 million tons, and Embalut will contribute 1.2 million tons.
“However, we expect our new mines in Bharinto will produce 200,000 tons this year,” Ruchiwarat said, adding the new site would be fully operational in 2011 and produce around 2 million tons of coal.
ITMG acknowledged that another new coal mine, Tandung Mayang in Kutai, East Kalimantan, will produce about 1 million tons in 2011.
Indo Tambangraya currently has about 294 million tons in its coal reserves in Kalimantan. The company sells its coal mostly to Japan, China, Taiwan and India.
Ruchiwarat refused to disclose the company’s revenue target this year, saying it depended on coal prices in the international market. The company predicts the coal price might be around US$60-$75 per ton in the international market, lower than last year’s average $71.5 per ton.
This year, the company aims to complete two projects in Bontang, Kalimantan; a coal terminal expansion costing $41 million in investment and a coal power plant requiring $6 million. “The coal terminal will be finished in the first quarter while the power plant is targeted to be running by mid-year,” said director Edward Manurung.
ITMG will allocate $101 million of capital expenditure (capex) this year, which mostly will be used for infrastructure and a coal washing plant for Trubaindo. The capex will be internally financed, as the firm has $429 million in cash reserves.
Based on the company’s financial performance, in 2009, Indo Tambangraya booked $336 million in net income, a 43 percent increase from $235 million a year earlier, while its gross revenue rose by 15 percent from $1.3 trillion in 2008.
Edward said that the main contributing factor to higher net profit was increased coal sales volume, which increased by 18 percent to 21 million tons from 17.7 million tons in 2008.
On Monday, ITMG, through its shareholders meeting, agreed to a dividend of Rp 1,964 per share.
Source: The Jakarta Post (By: Nani Afrida)
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Australian Coal Association
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
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