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Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
 * New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption last beyond 6-mth
Reuters reported that, Singapore-listed coal miner, Straits Asia Resources, said on Thursday the new coal loading facility at its Jembayan mine in Indonesia's East Kalimantan province has collapsed due to heavy rain.
The company did not say whether there were any casualties.
Straits Asia said it is investigating the extent of damage and the potential impact on the future operation of the newly commissioned facility. It said the facility will not be able to load its coal output for "some time".
UBS said in a research note that it might lower its valuation on the company if the disruption lasts longer than six months.
Straits Asia blamed the collapse on several days of rain in the area, which caused erosion and the failure of the foundation structure of the facility.
The company said the Jembayan mine site operates two load out trains at the mine, and the old facility, with a nominal annual capacity of 5.5 million tonnes, "does not appear to be affected by this event."
"All other mining activities at Jembayan continue to function normally and all reasonable steps are being undertaken to mitigate the impact of this event," the company said in a statement to the stock exchange.
Straits Asia, which exports most of its output to power plants in Japan, Korea, Taiwan and India, plans to boost its production from its two coal mines in East Kalimantan province to 9.5 million tonnes in 2009, from 8.6 million tonnes last year.
UBS analyst Andreas Bokkenheuser said in a note that the company should be able to achieve 8 million tonnes of output this year.
"If the loader won't be operational for another six months, our scenario analysis suggest a 10 percent downside from our current S$2.50 ($1.80) valuation to S$2.25," Bokkenheuser said.
The announcement came after the stock market closed. Straits Asia's shares had finished 1.38 percent higher to end at S$2.21, outperforming the broader market .FTSTI which finished 0.62 percent higher. ($1=1.392 Singapore Dollar)
Source: Reuters
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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Goldman Sachs - Singapore
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- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
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- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
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- The State Trading Corporation of India Ltd
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- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
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- Mjunction Services Limited - India
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- Eastern Coal Council - USA
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- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
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- Cement Manufacturers Association - India
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- Vizag Seaport Private Limited - India
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- Parliament of New Zealand
- White Energy Company Limited
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- Georgia Ports Authority, United States
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- VISA Power Limited - India
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- GVK Power & Infra Limited - India
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- Sojitz Corporation - Japan
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- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
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- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
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- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
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- Indo Tambangraya Megah - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
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- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
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- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
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- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
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- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
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