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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 $350 million to help achieve that target.
Adaro said it had signed an agreement with global mining giant BHP Billiton to develop BHP’s mines jointly in Indonesia. Adaro will get shares in BHP’s coal-mining units, including PT Maruwai Coal, PT Juloi Coal, PT Kalteng Coal, PT Sumber Barito Coal, PT Lahai Coal, PT Ratah Coal and PT Pari Coal.
“We will have 25 percent stakes in each of the mines,” said Andre Mamuaya Adaro’s corporate secretary.
Frederick Daniel Tanggela, an analyst at PT Sucorinvest Central Gani, said the coal industry was expected to suffer a slowdown this year because of lower prices.
He said Adaro’s higher production would offset the lower prices, allowing the company to enjoy higher revenue. “But we project that Adaro’s net profit will decline by 5 percent this year,” he said.
Meanwhile, PT Energy Mega Persada, an oil and gas company affiliated with the Bakrie group, reported that its net loss in 2009 widened to Rp 1.7 trillion from a Rp 35 billion loss in 2008 because of a lower realized oil price.
Revenue dropped by 22 percent to Rp 1.44 trillion from Rp 1.85 trillion, it said.
“The oil price dropped by 38 percent last year compared with 2008,” said Imam Agustino, president director of Energy Mega Persada.
Source: The Jakarta Globe ( By: Yessar Rosendar)
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
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 ...
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 ...
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- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- The University of Queensland
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
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