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Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
 COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for Bumi’s controlling interest for the period Jan-Sep’14 (compared to net loss of $377.5 million for the same period in 2013). According to Bumi, a positive income swing of $390.8 million Y-O-Y.
Company’s sales revenue, according to press release, dropped 17% to $2.19 billion for the period Jan-Sep’14 (from $2.65 billion y-o-y) due to lower coal price and the lower 51% KPC stake effective 1 Jul’14.
Bumi has mined 65.2 m tons (from 60.8 m tons YOY) of coal during first 3 quarters in 2014 (up 7%) and coal sales rose 9% to 64 m tons (from 58.6 m tons YOY) for the same period. According to press release, the company’s production cash cost fell 11% to $34.7 per ton of coal mined in January – September 2014 (compared with $41.9 per ton of coal mined in Jan-Sep’13). However, the average selling price fell 19% to $54 per ton over Jan-Sep’14 (from $66.8 per ton in Jan- Sep’13).
Company also noted that, the company’s gross profit during January – September 2014 declined 25% to $420.2 million (from $557.6 m for the same period last year) again due to lower price, and adjustment for lower KPC stake but partially offset by lower strip ratio and higher sales volume.
According to Bumi, coal prices continue to decline this year and whilst the Company is pursuing cost optimization and efficiency programs, sales are being maximized in parallel. The company also looking for an early solution to company’s debt settlement and restructuring process is being progressed including the Court process in Singapore and US. Objective is to bring down debt to sustainable levels as early as possible.
Bumi is also indicates that, BUMI is ready for the next upturn in the coal market whenever this takes place. According to company, every $10 per ton increase in the coal price fetches an incremental EBITDA of $7 per ton to BUMI.
The company’s coal Production capability is now 100 million tons in 2015.
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Monday, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
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- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
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- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
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- McConnell Dowell - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
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- Maheswari Brothers Coal Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Gujarat Electricity Regulatory Commission - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
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- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
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- Posco Energy - South Korea
- Indonesian Coal Mining Association
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- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
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- Banpu Public Company Limited - Thailand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
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- Trasteel International SA, Italy
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- Parliament of New Zealand
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- Eastern Energy - Thailand
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- Medco Energi Mining Internasional
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- Larsen & Toubro Limited - India
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- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
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- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
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- Electricity Generating Authority of Thailand
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
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- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
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- Siam City Cement PLC, Thailand
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- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
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- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
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- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
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