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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, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
...
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- Petrochimia International Co. Ltd.- Taiwan
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- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
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- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
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- Economic Council, Georgia
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- Energy Link Ltd, New Zealand
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- Mintek Dendrill Indonesia
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- Samtan Co., Ltd - South Korea
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- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
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- Georgia Ports Authority, United States
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
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- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
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- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
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- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
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- Posco Energy - South Korea
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- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
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- Semirara Mining and Power Corporation, Philippines
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- Trasteel International SA, Italy
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- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
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- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
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- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
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- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
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- Merrill Lynch Commodities Europe
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- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
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- IEA Clean Coal Centre - UK
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- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
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- Larsen & Toubro Limited - India
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- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
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- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
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- Videocon Industries ltd - India
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- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
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- Global Coal Blending Company Limited - Australia
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