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