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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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- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Indika Energy - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
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