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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a US$730 million additional coal mining contracting from PT Adimitra Baratama Nusantara from initial contract of US$200 million, according to Insider Stories.
Petrosea, in an official statement to Indonesia Stock Exchange, said the additional contract has been signed by Petrosea on August 25 2011, renewing the previous agreement signed on August 19 2009 and January 18 2011. Under the additional contract, Petrosea is obliged to produce 14 million tons coal and 126 million bcm at Sanga-Sanga, East Kalimantan.
Adimitra Nusantara has guaranteed at least 5-year contract to make Petrosea optimizes new heavy equipments, which is in line with higher production.
Petrosea is 99.39% controlled by Indika Energy, a company that is owned by two stellar businessmen Agus Lasmono Sudwikatmono and Wiwoho Basuki Tjokronegoro.
By end of June 2011, 86.29% of Petrosea consolidated revenue were contributed by coal mining or worth US$96.99 million, services of US$8.25 million, and engineering and construction of US$6.13 million.
Petrosea booked US$112.39 million revenue in the first half of this year, a 26.58% increase from US$88.79 million a year earlier. Adimitra Nusantara contributed US$28 million revenue to Petrosea.
Source: Insider Stories
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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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