Coal mining contractor PT Darma Henwa (DEWA) Tbk booked net loss of US$52 million last year, expanded by 26.8% from US$41 million in 2012. Accordingly, the company’s equity declined 19% to US$222 million, while total assets dropped 16.6% to US$366 million. Why the company consistently posted operating loss in the past few years? Why the company decided to divest most of its subsidiaries?

Shares of coal producers ended significantly lower in the past few trading days. Arch Coal and Peabody Energy dropped 4.71% and 5.33% respectively in New York Friday, while BHP Billiton and Rio Tinto lost 2.9% and 4.3% in Sydney this morning. China Coal Energy also ended lower by 2% in Hong Kong last Friday, while Whitehaven Coal down almost 4% in Sydney this morning.

Media quoted Nathaniel Rothschild, partner of Bakrie Group/Samin Tan in Asia Resource Minerals Plc (previously Bumi Plc), last week saying Bakrie Group has sold portion of Arutmin Indonesia shares to Tommy Winata (Artha Graha). Both Bakrie and Tommy Winata denied the information. What’s actually going on?

Shares of coal producers listed on Indonesia Stock Exchange (IDX) ended significantly higher Tuesday (Mar 4) on speculative buy from higher Nymex crude oil prices in international market. Their peers end mixed in the region. Shenhua lost 0.73% in Hong Kong, while BHP Billiton down slightly 0.11% in Sydney. Also in this report: Ares Asia Ltd.

Kepco reportedly considers selling its 20% interest in Bayan Resources (BYAN) to focus on the development of US$2.6 billion coal gasification project with state electricity provider PT Perusahaan Listrik Negara (PLN). Samsung, meanwhile, is working with PT Pembangunan Perumahan (PTPP) Tbk in the development of Kutai Coal Terminal with construction cost of US$200 million. But, the player to watch when it comes to coal production is clearly LG International.

Shares of coal producers continued their positive trend worldwide. Arch Coal Inc jumped 8.7% in New York last night, while Peabody Energy gained 3.72%. In Sydney this morning, BHP advanced 0.53%, while Rio Tinto gained 1.52%. In Jakarta, United Tractors advanced 1.23% in response to its 2013 financial results. Borneo Lumbung (BORN), meanwhile, ended flat at its record low.

PT Alam Tri Abadi (ATA), subsidiary of Adaro Energy (ADRO), has divested all of its 35% interest in PT Servo Meda Sejahtera (SMS) for total consideration of US$25.13 million. Buyers of the shares are PT Perusahaan Palembang Investama and PT Energi Karya Persada, both are affiliates of Titan Group and Trafigura Pte Ltd. ATA acquired SMS in October 2011 for Rp200 billion. The transaction is interesting in the context of coal plays in South Sumatra and groups involved there.

Can North American thermal coal compete in the Asian power generation market? County Coal Ltd believes it can, but it is a high volume and low margin proposition. The ASX-listed company said US’ drive to eliminate coal-fired power generation has led to new sources of export coal. Also in this report: Adaro Energy’s divestment of Servo Meda and Bakrie Group’s acquisition of Mitratama Perkasa from Sumber Energi Andalan.