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Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
 Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers from India, Thailand and Indonesia.
Adaro has committed itself to delivering up to 2 million tons of coal per year for each buyer, with first delivery due by next December, marketing director Alastair Grant said after the annual shareholders' meeting.
The contracts would last for a total of 15 years, but are subject to review every five years, Grant said.
When asked about the price, Grant refused to give the figures, saying that there was a confidentiality agreement in the contracts.
"We always sell at market price because if we do not, there's either an unhappy buyer who therefore won't take our coal, or an unhappy seller, ourselves, who will try to change it," Grant said.
Grant also refused to reveal the buyers' identity due to the confidentiality agreement. He only said that the buyer companies are the operators of new power plants that would start operation next year.
Grant said the contracts justified the company's prediction that demand from the Asian market would remain strong this year with the operation of new power plants in China, India and Indonesia.
To meet demand, the company will remain on track in raising production to between 42 and 45 million tons of coal this year with 70 percent of the production to be exported, president director Garibaldi Thohir said.
Last year, the company produced 38.5 million ton of coal and exported it mostly to Asian nations like India, Hong Kong, Japan, and to several EU countries, and to the US.
For the selling price, Adaro has targeted an average selling price of between US$52 and $65 a ton this year, higher than $39.5 a ton last year.
Adaro's net profit soared 902 percent to Rp 887 billion (US$87.81 million) last year up from Rp 89 billion in 2007 due to higher selling prices and increased sales volume. Meanwhile its net revenue jumped 82 percent to Rp 4.2 trillion in 2008.
Adaro has forecast double-digit growth in terms of revenue for this year, as evident from its strong showing in the first three-month period when it booked a net profit of Rp 1.15 trillion, a huge rise from the Rp 12 billion in losses a year earlier.
The company managed to sustain growth in the first quarter despite only posting a slight increase in production of between 8 and 9 percent.
Adaro operational director Chia Ah Hoo explained they would make up for the slight rise in first quarter production in the next quarters when there would be less rainfall.
During the shareholders meeting, the company approved the allocation of 42.5 percent of the 2008 net profits, or about, Rp 377.43 billion (US$37.36 million) as dividends, equivalent to Rp 11.8 a share.
Meanwhile, Bloomberg reported also Wednesday that investors in Adaro raised Rp 1.54 trillion selling shares at a 10 percent discount to yesterday's price, citing a sale document.
About 1.25 billion shares exchanged hands on the negotiated market, where investors and exchange members negotiated the price and reported it to the exchange, at Rp 1,230 per share.
Goldman Sachs Group Inc. helped sell the shares for investors including the Government of Singapore Investment Corp. and Goldman Sachs SSG, the document said.
Source: http://www.thejakartapost.com/news/2009/06/04/adaro-secures-three-new-contracts-says-outlook-positive.html
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Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
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- Australian Coal Association
- Indian Energy Exchange, India
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- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
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- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
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- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
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- Sinarmas Energy and Mining - Indonesia
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- Videocon Industries ltd - India
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- GN Power Mariveles Coal Plant, Philippines
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- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
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- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Bhushan Steel Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
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- Gujarat Sidhee Cement - India
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- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- ASAPP Information Group - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Interocean Group of Companies - India
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- Bhatia International Limited - India
- CNBM International Corporation - China
- PTC India Limited - India
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- Economic Council, Georgia
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- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Parliament of New Zealand
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- Coal and Oil Company - UAE
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- Renaissance Capital - South Africa
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- GAC Shipping (India) Pvt Ltd
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- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
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- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
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- Attock Cement Pakistan Limited
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- Wood Mackenzie - Singapore
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- Thiess Contractors Indonesia
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- White Energy Company Limited
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- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Minerals Council of Australia
- Merrill Lynch Commodities Europe
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