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