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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced to 8,7% in the six months to September 30, from 11,3% in the previous period, and was expected to remain under pressure for another 12 months "at least".
"In these times, cost saving is crucial," Wescoal CEO Andre Bojé said on Wednesday, when he announced that there would be no interim dividend.
He anticipated no improvement in the poor current trading conditions until the second half of 2010.
Wescoal would, Bojé said, focus on trading with smaller customers, enter new markets, and intensify mining in order to limit reliance on any one of its coal trading, coal washing or coal-mining divisions.
"We'll move rapidly to being a primary producer of coal, with a strong trading arm, and reduced vulnerability to a single revenue stream," he said.
He ascribed volume decline to reduced manufacturing activity and increased competition from traditional exporters choosing to divert product into the domestic market.
Wescoal's revenue fell 27% to R217-million – compared to R299-million in the previous corresponding – and profit fell to R7-million from R13-million. Net asset value, the company said, was well above the 74c share price at 114,76c a share.
Wescoal's trading segment contributed 88% to overall revenue, amounting to R191-million; and the washing and mining segments the remaining 12%, amounting to R26-million.
Bojé said that management was "extremely excited" about the contribution the jig plant was making at Blesboklaagte and by the acquisition of the Khanyisa mine, where a rail siding had been secured and an additional coal-washing plant was being considered.
The jig plant was commissioned at Blesboklaagte to process discard that was previously waste, the benefits of which will flow through during the balance of the financial year.
Source: Mining Weekly
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
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