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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 picked up in line with the start of the global economic recovery.
PT Adaro Energy, the country’s third-largest coal producer, announced on Wednesday that net profit more than quadrupled to a record high of Rp 4.4 trillion ($484 million) last year from Rp 887 billion in 2008.
Meanwhile, PT Bayan Resources, one of the top 10 producers, said in a statement that net profit soared to Rp 136.29 billion from Rp 20.71 billion.
Ario Rachmat, Adaro Energy’s vice president director, attributed the profit growth to higher average selling prices of coal as well as increased production.
He said that although demand was weak in the first quarter of 2009, conditions improved in the second half of the year, with greater demand pushing prices higher and increasing revenue.
Adaro’s average selling price last year was $59.3 per ton, up 52 percent from $39 per ton in 2008. The price realized last year was based on a contract made in 2008.
In 2009, Adaro’s revenue grew 49 percent to Rp 26.9 trillion.
Bayan’s revenue rose 59 percent to Rp 7.75 trillion last year from Rp 4.88 trillion in 2008.
Weather conditions last year were favorable for coal miners. Adaro’s production increased to 40.6 million tons from 38.5 million tons a year previously.
The Jakarta-listed company has said it aimed to increase production by 10 percent this year and planned capital expenditure of $300 million to $350 million to help achieve that target.
Adaro said it had signed an agreement with global mining giant BHP Billiton to develop BHP’s mines jointly in Indonesia. Adaro will get shares in BHP’s coal-mining units, including PT Maruwai Coal, PT Juloi Coal, PT Kalteng Coal, PT Sumber Barito Coal, PT Lahai Coal, PT Ratah Coal and PT Pari Coal.
“We will have 25 percent stakes in each of the mines,” said Andre Mamuaya Adaro’s corporate secretary.
Frederick Daniel Tanggela, an analyst at PT Sucorinvest Central Gani, said the coal industry was expected to suffer a slowdown this year because of lower prices.
He said Adaro’s higher production would offset the lower prices, allowing the company to enjoy higher revenue. “But we project that Adaro’s net profit will decline by 5 percent this year,” he said.
Meanwhile, PT Energy Mega Persada, an oil and gas company affiliated with the Bakrie group, reported that its net loss in 2009 widened to Rp 1.7 trillion from a Rp 35 billion loss in 2008 because of a lower realized oil price.
Revenue dropped by 22 percent to Rp 1.44 trillion from Rp 1.85 trillion, it said.
“The oil price dropped by 38 percent last year compared with 2008,” said Imam Agustino, president director of Energy Mega Persada.
Source: The Jakarta Globe ( By: Yessar Rosendar)
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
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 ...
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 ...
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- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
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