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Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
 The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although facing land permit problems on a site controlled by its subsidiary, PT Jorong Barutama Greston.
ITMG president director Somyot Ruchirawat told reporters after a shareholders meeting in Jakarta that the land permit problem in South Kalimantan would slightly affect the subsidiary’s coal output.
“Jorong will contribute 2 million tons of coal this year, down from 3.1 million tons a year earlier,” he said.
Jorong is said to have received a permit from the forestry ministry for operating its site but has yet to adhere to a government regulation on spatial planning.
Regardless of this, Somyot said ITMG would be able to produce 23 million tons of coal this year, up from 21 million tons last year, thanks to increased output from other subsidiaries: PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Kitadin Embalut and PT Bharinto Ekatama.
To fulfill production targets, according to Ruchiwarat, ITMG will optimize its production from existing coal mines including a site controlled by Bharinto, which will reach the production stage in April.
Trubaindo is expected to contribute 6 million tons of coal this year, while Indominco will contribute 13.2 million tons, and Embalut will contribute 1.2 million tons.
“However, we expect our new mines in Bharinto will produce 200,000 tons this year,” Ruchiwarat said, adding the new site would be fully operational in 2011 and produce around 2 million tons of coal.
ITMG acknowledged that another new coal mine, Tandung Mayang in Kutai, East Kalimantan, will produce about 1 million tons in 2011.
Indo Tambangraya currently has about 294 million tons in its coal reserves in Kalimantan. The company sells its coal mostly to Japan, China, Taiwan and India.
Ruchiwarat refused to disclose the company’s revenue target this year, saying it depended on coal prices in the international market. The company predicts the coal price might be around US$60-$75 per ton in the international market, lower than last year’s average $71.5 per ton.
This year, the company aims to complete two projects in Bontang, Kalimantan; a coal terminal expansion costing $41 million in investment and a coal power plant requiring $6 million. “The coal terminal will be finished in the first quarter while the power plant is targeted to be running by mid-year,” said director Edward Manurung.
ITMG will allocate $101 million of capital expenditure (capex) this year, which mostly will be used for infrastructure and a coal washing plant for Trubaindo. The capex will be internally financed, as the firm has $429 million in cash reserves.
Based on the company’s financial performance, in 2009, Indo Tambangraya booked $336 million in net income, a 43 percent increase from $235 million a year earlier, while its gross revenue rose by 15 percent from $1.3 trillion in 2008.
Edward said that the main contributing factor to higher net profit was increased coal sales volume, which increased by 18 percent to 21 million tons from 17.7 million tons in 2008.
On Monday, ITMG, through its shareholders meeting, agreed to a dividend of Rp 1,964 per share.
Source: The Jakarta Post (By: Nani Afrida)
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
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