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Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT


Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this year despite the collapse of a new loading facility at its mine in Indonesia, a company official told Reuters on Tuesday.

The firm said last week that a new coal loading facility at its Jembayan mine in Indonesia's East Kalimantan province has collapsed due to heavy rains.

Straits Asia was looking at some options to boost output after the collapse, including upgrading capacity at its existing loading facility to between 6.5-7 million tonnes from 5.5 million tonnes annually, Graeme Tivey, Straits Asia's chief financial officer said.

The firm was also looking at the possibility of loading some of the coal via neighbouring miners, as well as buying the fuel from other sources to meet demand from customers, Tivey said.

"All of those things together, can get us out of the problem while we rebuild the loading facility," Tivey told Reuters in an interview on the sidelines of the Coaltrans 3rd Coal Mining Operations and Economics in Jakarta.
Source:Reuters



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Recent News

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 ...


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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