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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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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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- Merrill Lynch Commodities Europe
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- Parliament of New Zealand
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- Wood Mackenzie - Singapore
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- Anglo American - United Kingdom
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- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
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- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
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- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
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- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
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- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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