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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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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
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- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
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- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
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- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
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- Electricity Authority, New Zealand
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- Tata Chemicals Ltd - India
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- Baramulti Group, Indonesia
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- IHS Mccloskey Coal Group - USA
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- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
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- International Coal Ventures Pvt Ltd - India
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- Ministry of Transport, Egypt
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- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
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- Mjunction Services Limited - India
- Parliament of New Zealand
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- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Price Waterhouse Coopers - Russia
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- Therma Luzon, Inc, Philippines
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
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- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
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- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
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- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
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- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Wood Mackenzie - Singapore
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- PTC India Limited - India
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- Grasim Industreis Ltd - India
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- Indogreen Group - Indonesia
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- Merrill Lynch Commodities Europe
- VISA Power Limited - India
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- Minerals Council of Australia
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- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
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- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
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- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
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- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
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- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
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- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
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- New Zealand Coal & Carbon
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