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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- ASAPP Information Group - India
- Parry Sugars Refinery, India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Australian Coal Association
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
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