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Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
 COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US$1.44 billion yoy), a 42 percent increase in operating income to US$549 million (from US$386 million yoy) and a 9 percent increase in net income to US$ 274 million in the same period last year, according to the press release of the company.
The statement further said that, the first half 2011 net income of US$274 million for 2011 beats analysts consensus reported by Bloomberg and after adjustment to the new Indo GAAP Standards. This augurs very well for FY 2011 as market conditions continue to be robust for coal.
A highest ever realized fob price of US$91/ton (vs US$67/ton last year) was recorded by the company - this has resulted in an exponential increase of ca 50% increase in cash margin (price less production cash cost) which has overcompensated for the rise in input costs, opening out new mines and impact of rain.
"Consistent with our published Q1’11 results in June’11, the improved financial performance of the company proves our seriousness and capability in meeting the international best practices in accounting, governance and operation in line with our new significant shareholder, Bumi, Plc," said BUMI Director for Investor Relations Dileep Srivastava.
Higher global coal price and demand as well as derivative gains have played a major role in boosting BUMI's first half performance. "Coal demand has remained strong in spite of current global economic uncertainty. The company took various derivative instruments when it leveraged to acquire non coal assets in 2009 - these are now showing gains below the operating income line," added Dileep. Dileep also stated that BUMI remains focused on deleveraging the company's balance sheet including divesting BRMS in the 4thQuarter of this year.
"Our focus remains unchanged including divesting non coal assets and deleveraging our balance sheet as announced last year. And we are on the right track," Dileep said.
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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Manunggal Multi Energi - Indonesia
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- Australian Coal Association
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
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- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
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- Mjunction Services Limited - India
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- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Indian Energy Exchange, India
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- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
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- Mercuria Energy - Indonesia
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- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
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- Simpson Spence & Young - Indonesia
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- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
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- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Minerals Council of Australia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
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- Coal and Oil Company - UAE
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- Attock Cement Pakistan Limited
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- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
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- Chamber of Mines of South Africa
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- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
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- The University of Queensland
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