Tue Nov 29, 2011
JAKARTA Nov 29 (Reuters) - Indonesian miners Harum Energy and Bayan Resources said on Tuesday that they expected delays to their coal deliveries from Borneo island after a bridge collapsed at the weekend, blocking a river used for barge shipments.
"For now ships are not allowed to go across the collapsed bridge area," said Harum Energy spokeswoman Alexandra Mira, adding that the company had notified buyers about the possibility of rescheduled shipments.
She did not give any estimate regarding the volume or length of the likely delay.
Harum's share price fell 5.5 percent on Monday on concerns it would be affected. It rose 0.7 percent on Tuesday.
The delays from the world's top exporter of thermal coal are not seen lifting regional coal prices, given an oversupplied market and concerns about weak demand.
Bayan's coal barging of 20-25,000 tonnes per day along the river from its mine to a port was affected, said Jenny Quantero, a director at Bayan.
An eyewitness said barges were unable to cross the area on Tuesday because of rescue team efforts after the 700-metre suspension bridge on the Mahakam river in Kalimantan collapsed on Saturday, killing at least 18 people.
Indonesia's major coal firms Bumi Resources and Adaro Energy said their shipments were not affected because they did not use the river, though Bumi warned it could be a problem for the industry if the delays continued.
"This may significantly impact transportation of coal at many coal producing mines in the area," Bumi said in a statement.
Brokerage CIMB said that the disruption would only be clear after a safety review in a week's time.
The Mahakam river accounted for around 15 percent of Indonesia's production, so a three-week stoppage could cut three million tonnes, it said.
It said the river each week carried all of Harum's volume of 200,000 tonnes, 158,000 tonnes from Indo Tambangraya Megah and 180,000 tonnes from Singapore-listed Sakari Resources.
CLSA put the potential volume at 20 percent of Indonesia's output, though said firms usually carried three to four-week stockpiles at mines and ports.
"Any outage beyond four weeks could affect Indonesia's coal production by up to 5.7 million tonnes per month," CLSA said in a report.
(sourced Reuters)
Showing posts with label affect coal export. Show all posts
Showing posts with label affect coal export. Show all posts
Tuesday, November 29, 2011
Monday, November 28, 2011
Coal Miners’ Shares Drop on Fallout From Bridge Collapse
Monday, November28, 2011
Shares of Harum Energy and other Indonesian coal miners that operate in East Kalimantan province fell on Monday on concern that the collapse of the Kutai Kartanegara bridge into the Mahakam River would affect their profitability.
“The Mahakam River is the largest river in East Kalimantan and has one of the most crowded coal-barging traffic activities,” said Herman Koeswanto, an analyst at Mandiri Sekuritas, in a report sent to clients on Monday. “This will affect almost all listed coal companies that are located in East Kalimantan.”
He said that “the most-affected listed coal companies” would be Harum Energy, Indo Tambangraya Megah (ITMG), Sakari Resources and Bayan Resources.
These companies, which do a lot of business in resource-rich East Kalimantan, use the Mahakam River to transport coal for distribution at a port from their facilities.
Shares of Harum dropped 5.4 percent to Rp 6,950 at the Indonesia Stock Exchange (IDX). ITMG slipped 2.3 percent to Rp 37,800, and Bayan lost 0.3 percent to Rp 18,150. Sakari, which trades in Singapore, shed 1.8 percent to 1.895 Singapore dollars.
The mining index, which measures the movement of coal miners on the IDX, fell 1.4 percent to 2,487.96 on Monday, compared to a 0.3 percent gain for the benchmark Jakarta Composite Index (JCI).
Coal miners including Harum, Bayan, ITMG and Bumi Resources have notified the exchange and investors as to whether the collapse of the bridge would affect them. Most of the coal miners said they would not be affected by the disaster.
“The closure will prevent us from transporting coal from our Separi port to our transshipment points in Muara Jawa and Muara Berau,” said Harum Energy spokesperson Alexandara Mira in a statement.
“Our coal shipment for the month of November 2011 should largely be unaffected since almost all of the coal due to be loaded for the month has been barged past the affected section of Mahakam River. We have notified our customers of potential delays of future shipments resulting from the river closure.”
Dileep Srivastava, Bumi Resources’ investor relations director, said on Monday that the disaster would have no impact on the company.
“We expect to maintain normalcy of coal shipments from our dedicated ports to our valued clients,” Dileep said in a statement.
Jenny Quantero, corporate director at Bayan, said that there would not be any impact on the company in the short term.
“For now, we are not affected,” she said in a statement. “We hope that the reparation of the bridge will not last long. If the renovation will take more time, we will be affected.”
Bayan is producing 14.5 million to 15.5 million tons of coal and it plans to sell 15 million to 16 million tons of coal this year. The company sells coal to Japan, India and Malaysia and has eight mining companies in East Kalimantan, according to its Web site.
Analysts in Jakarta, however, were not so sure that the disaster would have such a light impact on the companies.
“This accident should affect the coal loading and deliveries activities that may incur demurrage cost for coal producers,” Mandiri Sekuritas’ Herman said.
Erindra Krisnawan, an analyst with CIMB Niaga, agreed.
“As long as the evacuation schedule is not clear, we expect their stock to be pressured,” Erindra said.
Saturday’s collapse of the 10-year-old bridge, which spans the Mahakam river in central East Kalimantan province, has claimed the lives of at least 10 people, and 28 more are missing. The government is currently assessing the effects of the disaster.
The government has prevented any ship from crossing the area of the river where the bridge collapsed.
(sourced The JakartaGlobe)
Shares of Harum Energy and other Indonesian coal miners that operate in East Kalimantan province fell on Monday on concern that the collapse of the Kutai Kartanegara bridge into the Mahakam River would affect their profitability.
“The Mahakam River is the largest river in East Kalimantan and has one of the most crowded coal-barging traffic activities,” said Herman Koeswanto, an analyst at Mandiri Sekuritas, in a report sent to clients on Monday. “This will affect almost all listed coal companies that are located in East Kalimantan.”
He said that “the most-affected listed coal companies” would be Harum Energy, Indo Tambangraya Megah (ITMG), Sakari Resources and Bayan Resources.
These companies, which do a lot of business in resource-rich East Kalimantan, use the Mahakam River to transport coal for distribution at a port from their facilities.
Shares of Harum dropped 5.4 percent to Rp 6,950 at the Indonesia Stock Exchange (IDX). ITMG slipped 2.3 percent to Rp 37,800, and Bayan lost 0.3 percent to Rp 18,150. Sakari, which trades in Singapore, shed 1.8 percent to 1.895 Singapore dollars.
The mining index, which measures the movement of coal miners on the IDX, fell 1.4 percent to 2,487.96 on Monday, compared to a 0.3 percent gain for the benchmark Jakarta Composite Index (JCI).
Coal miners including Harum, Bayan, ITMG and Bumi Resources have notified the exchange and investors as to whether the collapse of the bridge would affect them. Most of the coal miners said they would not be affected by the disaster.
“The closure will prevent us from transporting coal from our Separi port to our transshipment points in Muara Jawa and Muara Berau,” said Harum Energy spokesperson Alexandara Mira in a statement.
“Our coal shipment for the month of November 2011 should largely be unaffected since almost all of the coal due to be loaded for the month has been barged past the affected section of Mahakam River. We have notified our customers of potential delays of future shipments resulting from the river closure.”
Dileep Srivastava, Bumi Resources’ investor relations director, said on Monday that the disaster would have no impact on the company.
“We expect to maintain normalcy of coal shipments from our dedicated ports to our valued clients,” Dileep said in a statement.
Jenny Quantero, corporate director at Bayan, said that there would not be any impact on the company in the short term.
“For now, we are not affected,” she said in a statement. “We hope that the reparation of the bridge will not last long. If the renovation will take more time, we will be affected.”
Bayan is producing 14.5 million to 15.5 million tons of coal and it plans to sell 15 million to 16 million tons of coal this year. The company sells coal to Japan, India and Malaysia and has eight mining companies in East Kalimantan, according to its Web site.
Analysts in Jakarta, however, were not so sure that the disaster would have such a light impact on the companies.
“This accident should affect the coal loading and deliveries activities that may incur demurrage cost for coal producers,” Mandiri Sekuritas’ Herman said.
Erindra Krisnawan, an analyst with CIMB Niaga, agreed.
“As long as the evacuation schedule is not clear, we expect their stock to be pressured,” Erindra said.
Saturday’s collapse of the 10-year-old bridge, which spans the Mahakam river in central East Kalimantan province, has claimed the lives of at least 10 people, and 28 more are missing. The government is currently assessing the effects of the disaster.
The government has prevented any ship from crossing the area of the river where the bridge collapsed.
(sourced The JakartaGlobe)
Thursday, March 24, 2011
SAfrica's Transnet ups coal line tariffs by 26-30 pct
Thu Mar 24, 2011 8:10am GMT
JOHANNESBURG, March 24 (Reuters) - South Africa's rail and logistics group Transnet [TRAN.UL] said on Thursday it would raise tariffs on its rail line used to transport coal to the export terminal at Richards Bay by up to 30 percent.
"The export coal rail tariffs will be raised by between 26-30 percent. The tariff increases will be effective from March 26," spokesman Sandile Simelane said in an emailed response to questions. (Reporting by Agnieszka Flak, Editing by Olivia Kumwenda, Reuters)
Tags : raw material, power station coal, Asian coal market, Africa coal
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