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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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Tuesday, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Mercator Lines Limited - India
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- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
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- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
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- Savvy Resources Ltd - HongKong
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- LBH Netherlands Bv - Netherlands
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- Makarim & Taira - Indonesia
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- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
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- IEA Clean Coal Centre - UK
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- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
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- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
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- Medco Energi Mining Internasional
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- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
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- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Planning Commission, India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
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