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Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
 Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers from India, Thailand and Indonesia.
Adaro has committed itself to delivering up to 2 million tons of coal per year for each buyer, with first delivery due by next December, marketing director Alastair Grant said after the annual shareholders' meeting.
The contracts would last for a total of 15 years, but are subject to review every five years, Grant said.
When asked about the price, Grant refused to give the figures, saying that there was a confidentiality agreement in the contracts.
"We always sell at market price because if we do not, there's either an unhappy buyer who therefore won't take our coal, or an unhappy seller, ourselves, who will try to change it," Grant said.
Grant also refused to reveal the buyers' identity due to the confidentiality agreement. He only said that the buyer companies are the operators of new power plants that would start operation next year.
Grant said the contracts justified the company's prediction that demand from the Asian market would remain strong this year with the operation of new power plants in China, India and Indonesia.
To meet demand, the company will remain on track in raising production to between 42 and 45 million tons of coal this year with 70 percent of the production to be exported, president director Garibaldi Thohir said.
Last year, the company produced 38.5 million ton of coal and exported it mostly to Asian nations like India, Hong Kong, Japan, and to several EU countries, and to the US.
For the selling price, Adaro has targeted an average selling price of between US$52 and $65 a ton this year, higher than $39.5 a ton last year.
Adaro's net profit soared 902 percent to Rp 887 billion (US$87.81 million) last year up from Rp 89 billion in 2007 due to higher selling prices and increased sales volume. Meanwhile its net revenue jumped 82 percent to Rp 4.2 trillion in 2008.
Adaro has forecast double-digit growth in terms of revenue for this year, as evident from its strong showing in the first three-month period when it booked a net profit of Rp 1.15 trillion, a huge rise from the Rp 12 billion in losses a year earlier.
The company managed to sustain growth in the first quarter despite only posting a slight increase in production of between 8 and 9 percent.
Adaro operational director Chia Ah Hoo explained they would make up for the slight rise in first quarter production in the next quarters when there would be less rainfall.
During the shareholders meeting, the company approved the allocation of 42.5 percent of the 2008 net profits, or about, Rp 377.43 billion (US$37.36 million) as dividends, equivalent to Rp 11.8 a share.
Meanwhile, Bloomberg reported also Wednesday that investors in Adaro raised Rp 1.54 trillion selling shares at a 10 percent discount to yesterday's price, citing a sale document.
About 1.25 billion shares exchanged hands on the negotiated market, where investors and exchange members negotiated the price and reported it to the exchange, at Rp 1,230 per share.
Goldman Sachs Group Inc. helped sell the shares for investors including the Government of Singapore Investment Corp. and Goldman Sachs SSG, the document said.
Source: http://www.thejakartapost.com/news/2009/06/04/adaro-secures-three-new-contracts-says-outlook-positive.html
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Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
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- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
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- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
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- Posco Energy - South Korea
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
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- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- The University of Queensland
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- Samtan Co., Ltd - South Korea
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- Indonesian Coal Mining Association
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- Barasentosa Lestari - Indonesia
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- Cement Manufacturers Association - India
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- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Ministry of Transport, Egypt
- Indian Energy Exchange, India
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- Planning Commission, India
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- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
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- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
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- Medco Energi Mining Internasional
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- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
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- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Parliament of New Zealand
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- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
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- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
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- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
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- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
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- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
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- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
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- PowerSource Philippines DevCo
- Economic Council, Georgia
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- GMR Energy Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
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- Bukit Asam (Persero) Tbk - Indonesia
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- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
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- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
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- Interocean Group of Companies - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
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- Altura Mining Limited, Indonesia
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- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
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