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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
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