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