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Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
 * Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal miner PT Tambang Batubara Bukit Asam expects coal sales to increase by more than a fifth next year, and forecast its 2009 revenue will have climbed 25 percent despite selling less coal.
Bukit Asam, valued at just over $4 billion, expects to sell 15.6 million tonnes of coal in 2010, as it sees stronger demand in China and India as well as in traditional markets such as Japan, its president director said on Tuesday.
The company expects its 2009 revenue to hit 9 trillion rupiah
($945 million), compared to 7.2 trillion rupiah in 2008, as coal prices rose, Sukrisno said in an interview.
"We managed to get higher prices this year because we started negotiating with buyers earlier, before coal prices fell," he said.
The price of Australian thermal coal, a benchmark in Asia, hit a near 2-year low at around $58 a tonne in March as the global economic downturn dented sales. But prices rebounded last month, topping $80 a tonne, primarily on revived Chinese demand.
Bukit Asam expects 2009 coal sales of 12.6-12.8 million tonnes, slightly below a target of 13 million tonnes, due to lower domestic sales, but its average export price for January-September was $69.98 a tonne, versus $67.04 a year ago.
The company has agreed to sell some small cargoes of coal with a heating value of 6,700 kcal/kg air-dried basis (ADB) to Japanese buyers at about $75 a tonne for January-March delivery, Sukrisno said.
Coal prices are on an uptrend, so we want to see how prices are doing next year before negotiating other cargoes," he said.
Bukit Asam exports about 30 percent of its output, mainly to Japan and Malaysia on long-term contracts, but also to South Korea, China and India on a spot term basis.
EXPANDING PORTS
Sukrisno said Bukit Asam would spend about 1.7 trillion rupiah to expand its Tarahan port in South Sumatra to help it lock in long-term contracts with more buyers and get into the European market. Despite mineable reserves of 2 billion tonnes, production remains low due to poor infrastructure. Output this year is estimated at just 11.8 million tonnes.
Bukit Asam will more than double Tarahan's capacity to 25 million tonnes a year, and hopes the expanded port will be operational by 2012.
"Having a bigger port will be our strength. Buyers will be more confident in making long-term contracts with us," Sukrisno said. "When we can handle capesize vessels, we can go to Europe, and freight rates will be cheaper."
The company also plans a new port near Lampung at the tip of Sumatera island with capacity to handle 22 million tonnes -- as part of a broader plan for a new 307 km (191 miles) rail line to connect to its coal mine in Central Bangko in South Sumatera.
Bukit Asam has said it plans to increase coal production to 50 million tonnes a year in 5-6 years by buying new mines and ramping up infrastructure, including ports and railways.
Bukit Asam shares closed down 1.2 percent on Tuesday, while the broader market .JKSE gained 1.5 percent. The stock has more than doubled so far this year on expectations for strong coal demand. ($1=9,485 rupiah)
Source: Reuters / Fitri Wulandari
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Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
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