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Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
 The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its mining business contribute a third of the firm’s net revenue in the next three to five years, its investor relations division said on Tuesday.
During 2009 when the heavy-equipment business was hit by the global financial crisis, the company managed to post only modest revenue growth of 4.8 percent, strongly supported by the performance of its mining subsidiary, PT Pamapersada Nusantara (Pama).
United Tractors posted revenue of Rp 29.24 trillion ($3.25 billion) in 2009, up from 27.9 trillion a year earlier. The mining-contracting business contributed 53 percent, while construction machinery experienced a decline and contributed 37 percent. The remaining 10 percent was contributed by coal mining.
United Tractors, a unit of PT Astra International, now aims for its three core businesses each to contribute a third of total revenue, said Ari Setiyawan, who handles investor relations for the company.
“Now mining contractors pay a great share [of the firm’s revenue], because it [revenue] is calculated in one basket. When, for example, construction machinery declines as it did last year, we would like to explore other businesses, such as coal mining,” Ari said during a visit to the Globe Media group on Tuesday.
In 2009, revenue from construction machinery declined to Rp 10,981 trillion from Rp 12,368 trillion.
United Tractors plans to acquire mining contracts in two coal mines in Central Kalimantan, Hasnanto Wahyudi, general manager of the marketing division, said on Tuesday.
“They are greenfield mines, meaning they haven’t produced yet,” Hasnanto said, adding that potential production from the two mines was about 30 million to 40 million tons.
Hasnanto declined to name the mines, but they are likely to have similar specification to one it acquired in 2008, the Tuah Turangga Agung mine, which according to a Reuters report on April 6, has 40 million tons of reserves of mid- to high-energy coal with a value of about $115 million at $3 per ton.
Apart from Tuah Turangga Agung, United Tractors owns PT Dasa Eka Jasatama, which has mining concessions in South Kalimantan with coal reserves of about 38 million tons, according to local news media.
“The point is, we would like to double our current production,” Ari said, adding that the current production of Tuah Turangga Agung mine was about 500,000 tons of coal, and Dasa Eka Jasatama produced 3 million tons.
“Our expectation is that in the next three to five years, we can produce 10 million tons.”
Akhmad Nurcahyadi, an analyst for PT BNI Securities, said diversifying revenue from the coal business could improve the company’s performance.
“As far as I can see now, demand [for coal in the international market] is stable, but they have to start to be cautious because at some point demand for it will make an adjustment after it is oversupplied,” Akhmad said.
“It is not a wrong move if they want to secure other sources [of revenue] right now as the price [of coal] tends to increase,” Akhmad said, referring to the rising price of coal globally.
Source: The Jakarta Globe ( Reported By: Muhamad Al Azhari, Ardian Wibisono, & Faisal Maliki Baskoro)
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Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- TeaM Sual Corporation - Philippines
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- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
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- LBH Netherlands Bv - Netherlands
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- Planning Commission, India
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- Holcim Trading Pte Ltd - Singapore
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- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Australian Coal Association
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- Thai Mozambique Logistica
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- Ministry of Finance - Indonesia
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- New Zealand Coal & Carbon
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- Standard Chartered Bank - UAE
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- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
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- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
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- SN Aboitiz Power Inc, Philippines
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- Eastern Coal Council - USA
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- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
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- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
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- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
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- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
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- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Carbofer General Trading SA - India
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- Trasteel International SA, Italy
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- Indian Energy Exchange, India
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- Independent Power Producers Association of India
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- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
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- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
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- Goldman Sachs - Singapore
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- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
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- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
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