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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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Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Monday, 01 June 09
LANDED COST OF IMPORTED COAL HAS INCREASED BY 10 - 15% COMPARE TO EARLY THIS YEAR - PAKISTAN TRADERS
COALspot.com (Pakistan): Due to visiting non commercial vessels occupied commercial berths in Karachi port, coal carrying vessels were sufferi ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH - THE JAKARTA POST
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week ...
Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
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- IEA Clean Coal Centre - UK
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- Gujarat Sidhee Cement - India
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- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
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- Ministry of Mines - Canada
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- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
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- Thai Mozambique Logistica
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- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
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- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
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- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
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- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
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- Bangladesh Power Developement Board
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- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
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- McConnell Dowell - Australia
- Planning Commission, India
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- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
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- The University of Queensland
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- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
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- Indian Energy Exchange, India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
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- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
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- Mercuria Energy - Indonesia
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- Georgia Ports Authority, United States
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- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
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- New Zealand Coal & Carbon
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- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
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- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
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- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
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- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
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- Petron Corporation, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
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- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
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- Merrill Lynch Commodities Europe
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- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
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