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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
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- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
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- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
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- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
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- Independent Power Producers Association of India
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- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
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- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
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- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
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