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