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