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Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
 Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Revenues
Company’s revenue for Q1 2012 accounted for IDR 3.02 trillion, up 31% compared with 1Q 2011 amounting to IDR 2.3 trillion. It is mainly due to its increased sales volume and selling price of coal.
The weighted average selling price for the domestic market in Q1 2012 amounting to IDR 745,872, - per ton or increased 0.4% compared with 1Q 2011 amounted to IDR 742,566, - per ton.
The weighted average selling price for export market in 1Q 2012 amounted to USD 94.5 per ton, up 8% compared with 1Q 2011 amounting to USD 87.7 per ton.
Railway Transport
The volume of rail freight in the period from January to March 2012 increased to 2.9 million tons, up 6% compared to 1Q 2011 which was 2.8 million tons.
Sales Volume
In 1Q 2012, the Company's sales volume rose 26% compared to sales volume of 1Q 2011, from 3.1 million tons to 3.9 million tons. It was due to increased export sales volume by 71% or 1.7 million tons, while domestic sales increased by 4% or 2.2 million tons.
Production and Purchases
In 1Q 2012, Company's coal production rose 13% compared with 1Q 2011, which is up from 3 million tons to 3.4 million tons, including coal production from the subsidiary (IPC in East Kalimantan) for 0,2 million tons.
Average stripping ratio in 1Q 2012 is up to 5.0, from 3.4 in the previous year.
Coal purchases from third parties in the period January-March 2012 are up from 0.1 million tons to 0.36 million tons.
Thus, the total production and purchase of coal in 1Q 2012 is 3.7 million tons, up 21% over the same period last year.
Operating Profit Margin
The margin of the Company in the period of January-March 2012 is up 6% to IDR 1 trillion, from IDR 0.94 trillion in 1Q 2011
Net Profit Margin
Company's Net Profit for the period January-March 201 2 rose 14% to IDR 0.87 trillion. In 1Q 2012, Gross Profit Margin (GPM) and Net Profit Margin of 47.3% and 28.8%, up by 53.7% and 32.8% for the same period in 2011. In addition, the ROI rose from 4% to 9.96% and the ROA rose from 5% to 6.95%.
The Company's earnings per share for the period January-March 2012 amounted to IDR 376, - from the previous IDR 330, -, with a number of outstanding shares of 2,304,131,850 shares.
Assets
The Company had total consolidated assets per 31 March 2012 of IDR 12.474,43 billion, up 8% compared with total consolidated assets as per December 31, 2011. Cash and equivalent cash per 31 March 2011 was recorded at IDR 6,427.90 billion, down 5% compared with cash and equivalent cash as per December 31, 2011.
Target of 2012
Based on the optimistic scenario, sales volume of FY12 is expected to reach 18.6 million tons, up 37% of the actual FY11 which was at 13.5 million tons. The efforts in increasing sales volume is in line with expectations on the performance of the increase in railway transport capacity, the performance of the subsidiary IPC in East Kalimantan, as well as the performance of coal trading volume of BAP.
The target of railway capacity will increase to 15.6 million tons, up 35% from 11.5 million.
While for the tariff per ton in 2012, has agreed up 6% compared to 2011.
The target of mine production volume of subsidiary IPC in 2012 will increase to 0.9 million tons from 0.6 million tons in 2011. Similarly, coal trading volume of the BAP is targeted to rise to 0.8 million tons, from the previous 0.7 million tons.
In order to maintain low production costs and efficiency of the company’s operational activities, one of the ways is through the utilization of 3 x 10 MW power plant for mining operations in Tanjung Enim mine unit, built for the internal use will be fully operational at the end of 1H 2012.
The Company is also finalizing its own power plant for internal use at the location of the Tarahan Port with the capacity of 2 x 8 MW and is targeted to be operational by 2H 2013.
In accordance with the company’s plans to increase the capacity of the existing rail transport gradually, which in 2012 is 18.6 million tons and followed 22.7 million tons per year starting in 2014, the company is currently in the process of completion of some infrastructure capacity i.e. the increase of capacity at barging port in Kertapati, Palembang to become 2.7 million tons per year, and at Tarahan port to be 25 million tons per year with the addition of a newly built jetty which is capable for accommodating Capesize vessels (150,000 dwt). These capacities will be completed in line with the schedule in the second half of 2013.
DEVELOPMENT OF PROJECTS:
The Existing Railway Capacity
Coal Transport Agreement between the company and the state owned railway, PTKA was signed on December 14, 2011 and shall come into effect from January 1 to December 31, 2016, with the ultimate target towards a gradual increase up to 22.7 million tons in 2014 onwards.
In order to implement the agreement, PTKA have brought new locomotives and carriages as well as build a double track line from Tanjung Enim to Prabumulih.
Newly built Railway Line from Tanjung Enim – Lampung
PT Bukit Asam Transpacific Railway (PT BATR) is a Joint Venture Company between PTBA (10%), PT Transpacific Railway Infrastructure (80%) and China Railway Engineering Corporation (10%). It includes railway line and coal terminal with the distance of about 307 km and the throughput of 25 million tons per year, which is expected to start operation in early 2016.
Currently the project is still in the preparatory process of land acquisition, which is expected to be completed by the end of the first half of 2013; which was then followed by the EPC phase requires the completion duration for 36 months.
Newly built Railway Line from Tanjung Enim – Tanjung Api-api
The Indian Adani Group will build Coal Transport Railway line from Tanjung Enim to the new port at Tanjung Api-api with capacity of 35 million tons per year, and the distance of about 270 KM. The entire capacity of the railway line will be fully used to transport PTBA’s coal. Adani planned as the off taker for approximately 60% of the total volume transported by referencing the market price. The progress already completed the stage of Feasibility. The construction completion will be expected to take 3-4 years. As planned this project will start in operation in 2016.
Banjarsari Mine Mouth Power Plant (2 x 110 MW)
PT Bukit Generating Innovative (PT BPI), is in progress for the completion of the power plant construction in Tanjung Enim. The required level of coal consumption is 1.4 million per year and will be fully supplied by the PTBA.
The EPC of this project already started with the ground breaking in July of 2011, and based on the contract, the duration required for completion of this plant will be for 33 months.
Central Banko Mine Mouth Power Plant (2 x 620 MW)
Within the first semester of 2012, the Power Purchase Agreement (PPA) will be completed with the state electricity firm (PLN). The construction is expected to run in early 2013, and will be in operation in 2016. In full capacity, this plant will consume 5.4 million tons per year, fully supplied by PTBA.
Coal Bed Methane (CBM) Project
Joint Operation Agreement was signed in last February 2011 by a consortium of PTBA (27.5%), Pertamina (27.5%), and Dart Energy (45%). This project will already be able to operate commercially in 2013 with CBM gas production capacity of about 50 million ft3 per day. The drilling of 2nd pilot well was already conducted in March 2012 and will be followed by the 3rd pilot well.
About PT. Bukit Asam
The coal mining in Tanjung Enim was initiated by the Dutch Colonial Government in 1919 by operating the first coal mine using open pit mining method in Air Laya.
Using underground mining method, initial operation commenced in 1923 and lasted until 1940, while commercial production began in 1938.
When the Dutch Colonial period ended in Indonesia, the mining workers fought for the nationalization of the mines. In 1950, the Indonesian Government approved the establishment of State-Owned Bukit Asam Coal Mine or Perusahaan Negara Tambang Arang Bukit Asam (PN TABA).
In1981, PN TABA converted its status to a limited liability company under the name of PT Tambang Batubara Bukit Asam (Persero) Tbk, further called the Company. To develop coal industry in Indonesia, in 1990 the Government merged Perum Tambang Batubara with the Company.
In line with the national energy security development program, in 1993 the Company was assigned by the Government to develop coal briquette business.
On December 23, 2002 the Company became a publicly listed company on the Indonesian Stock Exchange under the code of “PTBA”.
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Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
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- Planning Commission, India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
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