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Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES


Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons in 2011 from 10.5 million tons last year.

Straits Asia CEO Martin Purvis, in his presentation material, said in line with the higher output target, average selling price (ASP) has been set at US$80-US$85 per ton, a 16.76% increase from US$72.8 per ton last year.

However, capital expenditure is estimates to lower 18.58% to US$92 million this year from US$113 million last year as quoted by Insider Stories

In the first quarter of this year, Straits Asia, with its two mine sites dubbed Jembayan and Sebuku in Kalimantan, produced 2.8 million tons of coal with the ASP of US$82.2 per ton. In return, the company booked 1Q's net profit of US$41.4 million.

In 2010, the company, which is 45.39% owned by Thai company PTT Asia Pacific Mining Pty Ltd, booked US$736.5 million revenue, US$139.3 million operating profit, and US$88.2 million net income. 
Source: Insider Stories 



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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...


Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...


Sunday, 15 May 11
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Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...


Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
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