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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, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
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