Those Give Up (Temporarily) on Coal
Medco Group, MNC Group, and Sukanto Tanoto’s RGE Group might continue to boost their coal production, but others, especially those with concessions located far from seaports and low-rank coal, opted to suspend operations due to falling coal prices.
PALM OIL: Output to Watch!
Rally of crude palm oil (CPO) in the futures market ended Friday on falling Nymex crude oil by 1.2% to US$93.3 per barrel. Market players should focus more on CPO production report of companies in Malaysia and Indonesia. Six companies listed on KLSE reported a combined output growth of 25.1% in August 2014.
PALM OIL JOURNAL: Output to Watch!
The benchmark November 2014 contracts of crude palm oil (CPO) advanced by around 2.5% to RM2030 per ton on Bursa Malaysia Derivatives Thursday (September 4). That means the commodity has gained more than 4.5% in the past few trading days.
Junior Coal Player: BOSS Coal & People Behind
PT Cipta Kridatama, subsidiary of ABM Investama (ABMM), has secured a US$63 million mining service contract from PT Bangun Olah Sarana Sukses (BOSS), subsidiary of PT Megah Pratama Resources, for production of 1.5 million tons of coal per annum. Who’s behind BOSS and PT Megah Pratama Resources?
PALM OIL JOURNAL: Bumitama Agri
The benchmark November 2014 contracts of crude palm oil (CPO) closed off high at RM1952 per ton Tuesday as supply continues to weigh on recovery. In Jakarta’s physical market, KPB Nusantara, the joint marketing office of state plantations, sold almost all of 12 CPO packages (12,000 tons) at Rp7495-7815 per Kg (VAT 10% included).
PALM OIL JOURNAL: BW Plantation & Sawit Sumbermas
KPB Nusantara, the joint marketing office of state plantations, withdrew all of 10 CPO packages (11,000 tons) auctioned off Monday (September 1st) due to low bids. Buyers submitted bids as low as Rp7150 per Kg (VAT 10% included) or Rp6500/Kg net, even lower than average prices in the first half of 2013.
Harry Tanoe’s Coal Play
While coal prices move down south, Hary Tanoesoedibjo’s MNC Investama (BHIT) gear up investments in the industry. One of his companies, PT Nuansacipta Coal Investama (NCI), is already in production stage with output of 800,000 tons in the second quarter of 2014. Outlook?
BRAU Prolongs Samin Tan’s Miseries
PT Berau Coal Energy (BRAU) Tbk, parent of coal producer Berau Coal, where Samin Tan is an indirect majority shareholder, booked net loss of US$44.4 million in the first half of 2014 on falling sales revenue and squeezed margins. This only adds pressures toward Samin Tan, whose Borneo Lumbung Energi (BORN) yet to release financial statement for the year ended December 31, 2013.
Palm Oil: Bottoming Out?
Opened higher, the benchmark November 2014 contracts of crude palm oil (CPO) dropped RM33 (more than 1.5%) to RM1978 per ton Wednesday (Aug 27) on Bursa Malaysia Derivatives, the lowest level in five years. The commodity was volatile in the past few trading days as market players seek clearer directions. How CPO producers see their outlook?
Junior Coal Players to Watch
We believe some of you are already familiar with PT Senamas Energindo Mineral, a junior coal player controlled by Agritrade Resources Ltd, a company listed on the stock exchange of Hong Kong. Senamas produces around 3 million tons of coal per annum. But, ever heard of PT Bumi Sekundang Enim Energi, PT Muara Alam Sejahtera, PT Budi Gema Gempita, and PT Yastra Energy in coal market?