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Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES


Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue last year to Rp 2.86 trillion (approximately US$ 311.123 million) from Rp927 billion (approximately US$ 100.843 million) a year earlier.

Profit after tax jumped 788% to Rp 302 billion (approximately US$ 32.852 million) from Rp 34 billion (approximately US$ 3.698 million), mainly driven by strong growth of coal production last year.

Golden Mines produced 4.39 million tons of coal last year from 1.77 million tons. Coal mining production facilities, located in Sumatra, East Kalimantan, and South Kalimantan, have reserves of 911.25 million tons per December 31 2011.

"The year of 2011 was a break through for us and an effort to continue oyr business as one of the largest coal players in Asia Pacific," said President Director Fuganto Widjaja in a statement filed to Indonesia Stock Exchange last week. Fuganto is son of Indra Widjaja.
Source: Insider Stories



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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...


Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...


Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...


Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...


Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...


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