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Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
 The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between 48 million metric tons and 51 million tons of coal, citing difficult market conditions.
The company’s original forecast for the year was 50 million to 53 million tons.
“Despite the challenging market conditions, we remain on track to deliver on our long-term strategies to grow and create value. Our response to the economic downturn is not meant to distract us but to focus on our core business,” said Cameron Tough, Adaro’s head of investor relations.
Adaro’s coal production was 12.05 million tons in the second quarter of this year, bringing first-half production to 23.01 million tons, a slight improvement from the 22.81 million tons of coal produced last year, the company said in its quarterly activities report.
The miner saw a 5.1 percent year-on-year decrease in coal sales during the second quarter, while sales for the first half were 23.96 million tons, down from 24.02 million tons.
Analysts in Jakarta said that the domestic coal industry was expected to face tough times due to the economic slowdown in China and India, the two biggest importers of Indonesian coal. Adaro, however, believes that the long-term fundamentals for coal remain intact.
“We believe the recent weakness in the coal price is driven by excess supply, not the lack of demand,” Tough said.
The company has invested $744 million for the acquisition of coal deposits and a logistics company during the past two and a half years and spent $52.2 million for infrastructure projects in the second quarter to support its growth trajectory.
Reza Priyambadha, an analyst at Indosurya Asset Management, suggested that years of strong demand from India and China resulted in an oversupply of coal.
Reza said the slowing global economy caused major industries, including in China, to cut back on production, reducing demand for fuel from coal and natural gas.
Adaro’s net income will probably increase by 3.6 percent this year, according to Bloomberg data, a year after the company saw its profit more than double to $552 million.
Such a turnaround would also affect heavy-equipment businesses that are linked closely with the mining industry.
United Tractors, the heavy-equipment unit of Astra International, revised its sales target for this year to 8,500 units, down from a previous forecast of 9,500 units.
Shares of Adaro closed unchanged at Rp 1,520 on the Indonesia Stock Exchange on Friday.
Source: The Jakarta globe (By - Tito Summa Siahaan)
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Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Australian Coal Association
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
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