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Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS


COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. The same period in 2009, PTBA has sold only 5.84 million tons of coal according to press release of PTBA. 

66 percent of total sales in H1, goes to the domestic market and remaining 34 percents exported.  Despite 10 percent sales increase, total revenue fell 16 percent to Rp 3.794 trillion (US$ 419,091 million) in H1 2010 compare to Rp. 4.501 trillion (US$ 497.085 million ) in H1 of 2009, the report said. Company said various reasons for the drop in net profit.

The company’s average selling price to the domestic market was at Rp. 601,106 (US$ 66.38) in H1 of 2010. The same period in 2009, PTBA able to achieved price of Rp. 751,623 (US$ 83.00) for its coal from the domestic market.  However, PTBA claimed that, they were able to get better price from the domestic market for the period April – June 2010 compare to January – March 2010. 

Q2 coal prices were higher by 8 percent compare to Q1 coal price. 

The average selling price of PTBA coal for the export market for H1 was around at US$ 61.15 per metric ton, which was about US$ 13 below,  the price PTBA achieved from the export market in the same period in 2009.  The average price drop was due to larger volume of sub-bituminous coal exported, which has lower price compare to bituminous coal.

PTBA is also forecasting a higher revenue in H2, due to better coal price from the international market and allocate a higher percentage of bituminous coal for export.   PTBA is also assuming that, the international price for coal would be around US$ 98/ ton for 2nd half of this year.

The company is also projecting the total sales for this year will reach to 14.5 million tons, which is 15 percent higher than last year’s sales.
(1 USD = 9,055.00 IDR)



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