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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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Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
Monday, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
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- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
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- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
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- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
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- Romanian Commodities Exchange
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- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
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- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- Mercator Lines Limited - India
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- Heidelberg Cement - Germany
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- IHS Mccloskey Coal Group - USA
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- AsiaOL BioFuels Corp., Philippines
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- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- White Energy Company Limited
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- Energy Link Ltd, New Zealand
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- Petron Corporation, Philippines
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- Siam City Cement - Thailand
- Ministry of Transport, Egypt
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- Bangladesh Power Developement Board
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- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Planning Commission, India
- Intertek Mineral Services - Indonesia
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- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
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- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
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- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
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