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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. ($1=1.392 Singapore Dollar)
Source: Reuters
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Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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