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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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