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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
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