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