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Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
 PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million tons, or 47 percent of its full-year target of 88-90 million tons.
BUMI corporate secretary Dileep Srivastava said on Tuesday that the firm had sold 20 million tons of coal in the first quarter and was hopeful about achieving 22 million tons in the second quarter.
“Our second-quarter coal sales are 10 percent better than the first quarter, and we will have to sell another 45-48 million tons of coal in the second semester,” he told press after the annual shareholders meeting.
Dileep added that the firm’s growth was supported by steady production at its two coal miners, namely PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia.
The company expects to close this year with gross revenue at US$5 billion, up $100 million from last year’s $4.9 billion, despite the downward trend in coal prices.
According to the Energy and Mineral Resources Ministry, that downtrend began in October, when the coal price fell to $100.89 per ton. It declined further to $97.90 in November and $92.50 in December.
The trend continued this year, with the price dropping further in January, February, March and April to $92.41, $91.8, $90.57 and $88.85 per ton, respectively, before ending up much lower at $81.48 per ton in June.
“[In reaching our goals] we have already secured buyers for 85 percent of our coal production. Hence, we don’t have much doubt or see much risk in achieving our goals,” he said.
As of the first quarter of 2019, BUMI’s net profit dropped 46.27 percent year-on-year to $48.44 million, but that was much better than the previous quarter, when the firm only booked $15.1 million.
Despite a negative impact from the ongoing US-China trade war and the coal price cap for state-owned electricity firm PLN in the domestic market, Dileep was upbeat about the company’s prospects to raise coal output by 5-10 percent next year.
“Next year, there will hopefully be no coal price cap [at $70 dollars per ton] and the trade war impact could be mitigated. If those two things happen, I think we could have a 5-10 percent increase [in output] next year.” he said.
Source: The Jakarta Post
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Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
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As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Irani ...
Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
Deep Offshore Southeast Asia Congress 2019
Event Date:2-3th July. 2019t
Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
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- Orica Mining Services - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- Eastern Coal Council - USA
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- Parliament of New Zealand
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- PTC India Limited - India
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- Thiess Contractors Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- Alfred C Toepfer International GmbH - Germany
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- Toyota Tsusho Corporation, Japan
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- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
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- Global Business Power Corporation, Philippines
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- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
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- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
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- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
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- Chamber of Mines of South Africa
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- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
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- Ministry of Finance - Indonesia
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- Standard Chartered Bank - UAE
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- India Bulls Power Limited - India
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- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
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- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
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