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