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Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's earnings before interest, tax, depreciation and amortization (EBITDA) in 2009 will be close to the EBITDA in 2008, which is caused by the growing volume of production and sales as well as cost efficiency.
Bumi Resources Investor Relations Senior Vice President Dileep Srivastava said that the company’s coal production volume in 2009 is predicted to grow around 17.5 percent compared to the production volume in 2008.
Meanwhile, the sale is predicted to jump 14 percent to 58 million tons of a previous 51.5 million tons.
“With a satisfying selling price, Bumi is confident to reach a good EBITDA,” Srivastava said to VIVAnews in Jakarta on Wednesday night, Nov. 11.
He explained that the company’s products average selling price in 2009 reaches US$ 60.61 per ton of coal. The selling price is lower than the price in 2008, reaching US$ 73 per ton. Meanwhile, the selling price in 2007 only reached US$44 per ton.
In 2007, the company’s profit was boosted hitting US$ 317 million due to the asset selling of PT Arutmin Indonesia and PT Kaltim Prima Coal (KPC).
“We are convinced that we can have higher profit [than 2007 profit] in 2009,” he added.
Source: Viva News
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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
...
Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
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