Category: Commodities

Another Strong Month for United Tractors

Relatively strong price of coal contributed to more investments in heavy equipments by mining contractors. United Tractors (UNTR), which handles the leading market brand Komatsu, sold 485 units of machineries in April, an increase of 43% year-on-year, thanks to strong sales to mining sector and construction industry.

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Survival of the Fittest in Palm Oil

Palm oil has been under pressure for quite sometime now. The commodity stays below RM2500 per ton even though crude oil already moved closer to US$80 per barrel. Plantation companies reported significant drop in their net profit. Some will likely stay if pricing pressure stays longer, while others might leave the business.

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Coal Journal

Indonesia generated US$8.1 billion of foreign exchange earnings from export of coal in the first four months of 2018, an increase of 20% from the corresponding period last year, thanks to higher average price. Thermal coal price, meanwhile, advanced further to US$104.25 per ton Tuesday (May 15) as major coal producers in China found difficulties in increasing output.

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Sinarmas’ Golden Energy vs Geo Energy in Q1

Sinarmas Group is on its way to become third largest coal producer in Indonesia behind Bakrie Group (Bumi Resources) and Adaro Group. The group’s subsidiary Golden Energy and Resources Ltd, listed on SGX, produced 4.7 million tons of coal in the first quarter, on track to produce over 20 million tons this year.

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Electric Vehicle Continues to Support Nickel

Nickel ended slightly lower at US$13,910 in London Metal Exchange (LME) Friday, May11. It is significantly lower than its recent peak (US$15,600 per ton), but average price in the first four months of 2018 was the strongest since early 2015. Looks like that data about sales of electric cars in China continued to support the commodity.

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Jokowi’s Resource Nationalism: Pertamina

The government has finally granted 100% interest in Jambi-Merang and Raja/Pendopo oil and gas blocks to state company Pertamina. Production sharing contract (PSC) of these blocks, previously under joint operating body (JOB) between Pertamina and Talisman (Jambi Merang) and Golden Spike (Raja/Pendopo) will expire early next year.

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Oil & Gas Journal

Indonesia’s deficit in oil and gas trading expanded by 4.1% to US$2.7 billion in the first quarter of 2018 mainly due to 352% jump in deficit in crude oil. US President Donald Trump’s decision to withdraw from Iran nuclear deal, which lifted crude oil closer to US$80 per barrel, might lead to higher deficit for Indonesia, even though this might generate substantial windfall for the State Budget.

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Bright Spots of First Quarter: Toba Bara

Coal producer PT Toba Bara Sejahtra Tbk (TOBA), linked to the family of Luhut Binsar Pandjaitan (coordinating minister for maritime affairs), booked net profit of US$25.2 million in the first quarter ended March 31, 2018, jumped by 147% from the corresponding period last year thanks to higher volume and average selling price.

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Revisiting Delta Dunia Makmur

Shares of Delta Dunia Makmur (DOID), parent company of coal mining contractor BUMA, opened higher by 5% Monday (May 7) on broad market sentiment and reports about US$1 billion contract awarded by PT Indonesia Pratama, subsidiary of Bayan Resources (BYAN). 

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