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Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
 COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 compared with a corresponding loss of $20.8 million in 1H’16, or a positive profit swing by $183.1 million, year on year.
- Bumi Reports US$162.3 Million Profit In First Semester
- Positive Profit Swing By US$183.1 Million Yoy
- Consolidated Revenue Increases To US$ 2,344 Million
- Coal Price 37.6% Higher
According to the BUMI’s performance report for the period 1H’ 17, in FY'16, the Company turned around to a net attributable income of $67.7 million.
1H'17 financial highlights on full consolidation basis (including 100% KPC & Arutmin)
- Sales Revenue is $2,344 million
- Operating Income is $473 million
- Profit Before Tax is $545 million
- Consolidated Net Income is $248.1 million in 1H17
- Net Income (after adjustment for noncontrolling interest) is $162.3 million compared with a loss of $20.8 million in 1H16, or a positive profit swing by $183.1 million.
The company further noted that the consolidated numbers are internal estimates of the Company, subject to reconciliation processes.
- Coal mined was higher by 0.9% at 40.2 million tons in 1H'17
- Coal sales relatively flat at 41.5 million tons in 1H'17 compared with 1H'16
- Combined Strip Ratio reduced by 4.5% to 7.2 in 1H'17
However, the company noted that the coal Price increased to $54.8/ton in 1H17 compared with $39.8/ton in 1H16 – or an increase by 37.6%. In 2Q17 the realized Coal Price was $55.8/ton compared with $39.7/ton in 1H16 or an increase by 40.3%. The increase in Coal Price by $15/ton Y/Y resulted in Sales Revenue in $2,344 million in 1H17 – several times higher Y/Y.
The company forecasted that the Coal prices continuing rise and this augurs well for prospects of the Company for the rest of the year.
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Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- Eastern Coal Council - USA
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Cigading International Bulk Terminal - Indonesia
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