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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
 The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its executives says.
Indika investor relations vice president Retina Rosabai said Thursday the talks were still underway and no decision had been made, but refused to name the companies involved in the negotiations, or the value of the deal.
The deal is expected to bring the company's sales output next year to more than the 24 million tons estimated for this year.
To meet the target, the company is aiming to increase its coal output to 28 million tons by next year, a 12.68 percent increase on this year's production target.
The company's net profit dropped 25 percent in the first half of this year to Rp 361 billion (US$38.2 million) on the back of weaker demand.
However, Indika finance director Azis Rahman said conditions would improve in the second half of 2009 as revenue from engineering and mining subsidiary PT Petrosea would be consolidated into the company's financial books. He did not give any figures.
Indika recently acquired an 82 percent stake in Petrosea in a deal valued at $83.8 million.
By acquiring Petrosea, Indika expects to begin receiving up to 850,000 tons of additional coal from Petrosea's PT Santan Batubara unit this year, Azis said. Santan output is expected to increase to 2 million tons in 2010, he added.
Azis also said Indika was open for another acquisition opportunity, and that it had relatively strong cashflow, currently estimated to be around $270 million.
Other than supporting a possible acquisition, Indika would use the money to develop its three core business interests - power plants, resources and mining services.
Earlier it was reported that Indika was interested in acquiring assets belonging to British energy giant BP Plc and local coal producer Berau Coal.
Indika president director Arsjad Rasjid said earlier the company planned to partner with state oil and gas company PT Pertamina to buy a 46 percent stake in BP's Northwest Java Sea block in West Java.
When asked about the progress of these two acquisition plans, Azis refused to comment since both were still being negotiated.
Source: The Jakarta Post
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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
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 ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Kohat Cement Company Ltd. - Pakistan
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- Wilmar Investment Holdings
- Parliament of New Zealand
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- White Energy Company Limited
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- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
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- Jaiprakash Power Ventures ltd
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- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
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- Romanian Commodities Exchange
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- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
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- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
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- Bhatia International Limited - India
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- Indonesian Coal Mining Association
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- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
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- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- The Treasury - Australian Government
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- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
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- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
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- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
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- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
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- Electricity Authority, New Zealand
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- VISA Power Limited - India
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- Commonwealth Bank - Australia
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- PTC India Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
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- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
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- The University of Queensland
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- The State Trading Corporation of India Ltd
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- Malabar Cements Ltd - India
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- Petron Corporation, Philippines
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- Petrochimia International Co. Ltd.- Taiwan
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