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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 intangible assets.
The company said in a news release on Tuesday that net profit fell to Rp 725.67 billion ($79.82 million) last year from Rp 1.08 trillion in 2008. It had initially projected net profit to grow by 11 percent.
Last year the company, whose main business is coal mining, recorded a foreign exchange loss of Rp 245.32 billion, compared to forex exchange gain of Rp 194 billion in 2008.
The company said revenue increased 7.4 percent to Rp 2.5 trillion last year from Rp 2.3 trillion.
Indika also recorded an impairment loss on intangible assets of Rp 241.02 billion, which it attributed to the implementation of the cabotage regulation, which stipulates that only locally owned vessels can transport goods in Indonesian waters. The company did not elaborate. Indika officials could not immediately be reached for comment.
Johnson W Sutjipto, the head of the Indonesian National Shipowners’ Association, questioned how Indika could suffer a loss because of the cabotage regulation. Johnson said a coal company should benefit from the implementation of cabotage as there was an adequate supply of domestic ships and their transportation charges should be lower than those of foreign ships. “[Local ships] should be around 10 to 20 percent cheaper,” Johnson said.
Indika’s coal mining subsidiary, PT Kideco Jaya Agung, saw a 21.3 percent increase in revenue from $1.1 billion to $ 1.3 billion on the back of higher sales and a stronger average selling price.
But its oil and gas services unit, PT Tripatra, saw revenue drop to Rp 733 billion from Rp 1.3 trillion in 2008.
Mining services unit PT Petrosea, which was acquired in June of last year, booked revenue of Rp 854 billion last year. No comparative figure was given.
“This year is quite good for Indika and they could possibly reach a 30 percent growth for their revenue this year,” said Jerome Jovellana, an analyst at PT Mandiri Sekuritas. Jerome’s target price for Indika shares is Rp 2,750. The shares rose 1.1 percent to Rp 2,300 on Tuesday.
Source: The Jakarta globe ( By: Yessar Rosendar)
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Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
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- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- White Energy Company Limited
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
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