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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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Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- SN Aboitiz Power Inc, Philippines
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- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
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- Indika Energy - Indonesia
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- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
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- Dalmia Cement Bharat India
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- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
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- The University of Queensland
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- MS Steel International - UAE
- Posco Energy - South Korea
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- Standard Chartered Bank - UAE
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- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
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- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Electricity Authority, New Zealand
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- Indian Energy Exchange, India
- Singapore Mercantile Exchange
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- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
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- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Planning Commission, India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
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- Gujarat Mineral Development Corp Ltd - India
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- Kartika Selabumi Mining - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
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- Renaissance Capital - South Africa
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- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Ministry of Finance - Indonesia
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- India Bulls Power Limited - India
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- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
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- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
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- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
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- Power Finance Corporation Ltd., India
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- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Coal and Oil Company - UAE
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- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
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