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