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