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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Australian Coal Association
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
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