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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 picked up in line with the start of the global economic recovery.
PT Adaro Energy, the country’s third-largest coal producer, announced on Wednesday that net profit more than quadrupled to a record high of Rp 4.4 trillion ($484 million) last year from Rp 887 billion in 2008.
Meanwhile, PT Bayan Resources, one of the top 10 producers, said in a statement that net profit soared to Rp 136.29 billion from Rp 20.71 billion.
Ario Rachmat, Adaro Energy’s vice president director, attributed the profit growth to higher average selling prices of coal as well as increased production.
He said that although demand was weak in the first quarter of 2009, conditions improved in the second half of the year, with greater demand pushing prices higher and increasing revenue.
Adaro’s average selling price last year was $59.3 per ton, up 52 percent from $39 per ton in 2008. The price realized last year was based on a contract made in 2008.
In 2009, Adaro’s revenue grew 49 percent to Rp 26.9 trillion.
Bayan’s revenue rose 59 percent to Rp 7.75 trillion last year from Rp 4.88 trillion in 2008.
Weather conditions last year were favorable for coal miners. Adaro’s production increased to 40.6 million tons from 38.5 million tons a year previously.
The Jakarta-listed company has said it aimed to increase production by 10 percent this year and planned capital expenditure of $300 million to $350 million to help achieve that target.
Adaro said it had signed an agreement with global mining giant BHP Billiton to develop BHP’s mines jointly in Indonesia. Adaro will get shares in BHP’s coal-mining units, including PT Maruwai Coal, PT Juloi Coal, PT Kalteng Coal, PT Sumber Barito Coal, PT Lahai Coal, PT Ratah Coal and PT Pari Coal.
“We will have 25 percent stakes in each of the mines,” said Andre Mamuaya Adaro’s corporate secretary.
Frederick Daniel Tanggela, an analyst at PT Sucorinvest Central Gani, said the coal industry was expected to suffer a slowdown this year because of lower prices.
He said Adaro’s higher production would offset the lower prices, allowing the company to enjoy higher revenue. “But we project that Adaro’s net profit will decline by 5 percent this year,” he said.
Meanwhile, PT Energy Mega Persada, an oil and gas company affiliated with the Bakrie group, reported that its net loss in 2009 widened to Rp 1.7 trillion from a Rp 35 billion loss in 2008 because of a lower realized oil price.
Revenue dropped by 22 percent to Rp 1.44 trillion from Rp 1.85 trillion, it said.
“The oil price dropped by 38 percent last year compared with 2008,” said Imam Agustino, president director of Energy Mega Persada.
Source: The Jakarta Globe ( By: Yessar Rosendar)
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Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
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- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
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- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
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- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
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- Thiess Contractors Indonesia
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- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
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- ASAPP Information Group - India
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- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
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- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
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- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Independent Power Producers Association of India
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- Coastal Gujarat Power Limited - India
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- Indian Oil Corporation Limited
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- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
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- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
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- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
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- AsiaOL BioFuels Corp., Philippines
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- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
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- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
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- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
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- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
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- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
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- Sical Logistics Limited - India
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- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
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