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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011


The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 2011, as quoted by Insider Stories.

Insider Stories further said, the company's net profit has reached to Rp 760.92 billion (approximately US$ 88.764 Million) or Rp 330 (US$ 0.038)per share in 1Q 2011 compared to Rp 365.70 billion (approximately US$ 42.711 million) or Rp162 (US$ 0.0189) per share in 1Q 2010.

Bukit Asam’s operating profit has increased to  Rp 944.64 billion (approximately US$ 110.329 million) or surging of 123 percent  from Rp 422.92 billion (approximately US$ 49.395 million). 

Gross profit increased 75.94 percent to Rp1.24 trillion (approximately US$ 144.825 million) from Rp 706.75 billion (approximately US$ 82.544 million). The company has  posted Rp 2.32 trillion (approximately US$ 270.964 million)  in sales, a 30 percent up from Rp1.78 trillion (approximately US$ 270.964 million) because of the higher selling price of coal both in the local and export markets, as quoted by Insider Stories.

Bukit Asam's average selling price (ASP) increased 35 percent  to Rp 751,457 (approximately US$ 87.76) per ton compared to the same period a year earlier.

Coal output
The miner has produced 3 million tons a 16 percent  increase, while coal sales have decreased 4 percent to 3.1 million tons as sales volume fell. 

The company expects to increase coal sales to 16.8 million tons in 2011. Bukit Asam also plans to boost coal output at its IPC mine in East Kalimantan.



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Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...


Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal  in May 2011, up by 15.86 percent compared to April export of about  24.995 m ...


Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...


Tuesday, 21 June 11
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As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...


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The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...


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