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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
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