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Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
 Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, reports Bisnis Indonesia, an Indonesian news paper.
Managing Director of Harum Energy, Ray Antonio Gunara, said the company plans to gradually increase production capacity to 10 million tons this year from 7.4 million tons the previous year. As for next year, the target is to reach 14 million tons.
"Out of the total target of 10 million tons this year, 70% has already been contracted. The price cannot yet be determined because it is set per quarter and dependent on index," he said yesterday.
The company might revise its production target upwards if exploration results indicate higher reserve potential.
"For PT Tambang Batubara Harum (TBH), we expect it to enter production phase before the end of this year. We are still in the construction phase and there are administrative permits that need to be cleared. This year’s production is expected to reach 500,000 tons but it depends on the operation commencement," he explained.
Ray is hoping for a slightly higher sales volume than the production target this year. Last year sales reached 8.3 million tons. "We expect sales and bottom line improvement to equal the rate in the first quarter 2011."
This year, the budgeted capital expenditure is US$ 30 million, among others to be used for road hardening to improve transport quality, the construction of a new coal crusher unit, construction of port facilities at TBH, and increasing the number of tugs and barges fleet.
"The additional expenses will likely be funded from internal sources as the amount is not expected to be large," added Ray.
Up to 31 March 2011, the company recorded revenues of Rp 1,51 trillion or up by 69% from same period 2010 of Rp895 billion.
Net income allocated to entity holders is reported increase by 131% to Rp309 billion compared to same period last year Rp134 billion.
Growth in revenue and net income was primarily due to higher average coal selling price and increase of coal sales volume. Combined sales volume of coal from PT Mahakam Sumber Jaya and PT Santan Batubara reached 2.3 million tons in the first quarter of this year, up from 2.1 million tons in the same period of 2010.
The company’s average selling price of coal was US$88 per ton throughout the 1st Q of 2011 or an increase of 36% compared to same period in 2010 due to the rising trend in global coal prices.
"The average price is expected to increase compared to the achievement in the 1st Q of 2011. The average price of the 1st Q of 2011 was actually a carryover of 2010 contracts.
It is expected that the carryover in the 2nd Q of 2011 could be less, so that the average price could be better.
Source: Bisnis Indonesia
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Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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 20 ...
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- Agrawal Coal Company - India
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- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
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- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
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- Trasteel International SA, Italy
- Indika Energy - Indonesia
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- The University of Queensland
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- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
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- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
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- Riau Bara Harum - Indonesia
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- SMC Global Power, Philippines
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- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
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- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
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- Singapore Mercantile Exchange
- White Energy Company Limited
- Siam City Cement - Thailand
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
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- Formosa Plastics Group - Taiwan
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- Banpu Public Company Limited - Thailand
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- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
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- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
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- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
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- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
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- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
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- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
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- GMR Energy Limited - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
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- GAC Shipping (India) Pvt Ltd
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- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
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