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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 $7 per ton to BUMI.
The company’s coal Production capability is now 100 million tons in 2015.
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Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
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- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
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