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