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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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- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- The University of Queensland
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
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