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Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
 The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between 48 million metric tons and 51 million tons of coal, citing difficult market conditions.
The company’s original forecast for the year was 50 million to 53 million tons.
“Despite the challenging market conditions, we remain on track to deliver on our long-term strategies to grow and create value. Our response to the economic downturn is not meant to distract us but to focus on our core business,” said Cameron Tough, Adaro’s head of investor relations.
Adaro’s coal production was 12.05 million tons in the second quarter of this year, bringing first-half production to 23.01 million tons, a slight improvement from the 22.81 million tons of coal produced last year, the company said in its quarterly activities report.
The miner saw a 5.1 percent year-on-year decrease in coal sales during the second quarter, while sales for the first half were 23.96 million tons, down from 24.02 million tons.
Analysts in Jakarta said that the domestic coal industry was expected to face tough times due to the economic slowdown in China and India, the two biggest importers of Indonesian coal. Adaro, however, believes that the long-term fundamentals for coal remain intact.
“We believe the recent weakness in the coal price is driven by excess supply, not the lack of demand,” Tough said.
The company has invested $744 million for the acquisition of coal deposits and a logistics company during the past two and a half years and spent $52.2 million for infrastructure projects in the second quarter to support its growth trajectory.
Reza Priyambadha, an analyst at Indosurya Asset Management, suggested that years of strong demand from India and China resulted in an oversupply of coal.
Reza said the slowing global economy caused major industries, including in China, to cut back on production, reducing demand for fuel from coal and natural gas.
Adaro’s net income will probably increase by 3.6 percent this year, according to Bloomberg data, a year after the company saw its profit more than double to $552 million.
Such a turnaround would also affect heavy-equipment businesses that are linked closely with the mining industry.
United Tractors, the heavy-equipment unit of Astra International, revised its sales target for this year to 8,500 units, down from a previous forecast of 9,500 units.
Shares of Adaro closed unchanged at Rp 1,520 on the Indonesia Stock Exchange on Friday.
Source: The Jakarta globe (By - Tito Summa Siahaan)
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Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
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