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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Economic Council, Georgia
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