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