Toba Bara’s Q3 Results & Rumors Surrounding Luhut Panjaitan-Jokowi
Toba Bara Sejahtera (TOBA) booked net profit of US$17.04 million in the first nine months of 2014, jumped by 95% from the corresponding period of 2013. Unlike other coal producers, TOBA reported strong sales revenue growth of 31% to US$390 million in the period.
PALM OIL JOURNAL: Q3 Results
Market players are now focusing their attention to third quarter results of plantation companies and movement of CPO prices in global market. On Tuesday, the benchmark January 2015 contracts of CPO jumped by more than 2% to RM2212 per ton.
OIL & GAS DEALS: Ophir Energy, Petra Petroleum, & Kulim
Kulim Sdn Bhd is known in Indonesia as plantation company. On October 23, 2014, however, Kulim Energy Nusantara Sdn Bhd (KENSB) entered into a joint operating agreement (JOA) with PT Radiant Bukit Barisan E&P (RBB) and PT Graha Sumber Berkah (GSB) to participate in the exploration and development of oil and gas field in South West Bukit Barisan Block (SWBB), Central Sumatra.
COAL JOURNAL: China Data
Platt’s reported Friday that monthly Chinese import of thermal coal fell to 9.35 million tons last month, the lowest in more than two years. Import from Indonesia fell significantly by 48% to 2.81 million tons only in the month.
Coking Coal and Steel Industry
BHP Billiton Ltd, one of the world’s largest mining companies with market capitalization of A$182 billion, has just released its September quarter data. World Steel Association, which gathers information from steel producers in 65 countries, also reported slowdown of output in September. These are probably important data to watch for those involved in mining industry.
Palm Oil Journal: When Bukit Asam Enters Oil Palm Plantation Business
State-owned coal producer PT Bukit Asam Tbk (PTBA) has through its subsidiary PT Bukit Multi Investama acquired shares of PT Bumi Sawindo Permai (BSP) for Rp861.38 billion.
COAL & POWER JOURNAL: Domestic Market
Domestic consumption of coal might grow faster with commitment from the new government to accelerate development of coal-fired power plant projects. Combined with an expected lower approved coal production, Indonesia might supply substantially less to the seaborne market.
Coal Journal: Junior Players
Central Jakarta Commercial Court has granted Suspension of Debt Payment (PKPU) to PT United Coal Indonesia (UCI). UCI filed PKPU application to respond bankruptcy lawsuit filed by two of its creditors, namely CV Exiss Jaya and CV Satria Duta Perdana. State-owned Bank Mandiri (BMRI) is the largest creditor of UCI with outstanding of Rp229 billion.
Palm Oil Journal: Shares Bottoming Out?
Plantation shares ended further down in the region Thursday (Oct 16) on broad market sentiment and continues downfall of crude palm oil (CPO) prices in the futures market. Today, recovery in Nymex crude oil to US$83/barrel might lead to improvement in CPO market.
Palm Oil Journal: COFCO-Noble Deal
Chinese agriculture giant COFCO has agreed to acquire 51% shares in Noble Agri Ltd for US$1.5 billion in cash. Noble Group maintains 49% stake in the company, which has three divisions: grains & oilseeds, softs trading, and sugar milling.