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