Indonesia's Adaro sees '09 coal output at 42 mln T

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Oct 2008

Indonesia's second largest coal producer, PT Adaro Indonesia Tbk, expects its coal output to rise by 10.5 percent next year to 42 million tonnes, its president director said on Friday. The company expects to produce 38 million tonnes this year. Boy Garibaldi Thohir, Adaro's president director, also said the company is renegotiating prices for contracts signed at lower rates in 2006-2007 in line with government plans to tap high coal prices. He did not give details, but the company sees average selling prices at $52-$65 a tonne in 2009, up from $36-$39 a tonne.
Coal prices for power generators in Australia, a benchmark for Asia, rose for the first time in seven weeks to hover at $96 a tonne in the latest week, buoyed by increased buying by Asian utilities.
Asian thermal coal prices fell below $100 a tonne for the first time in nine months last week, halving from the record of $201 a tonne in early July as a slump in oil and gas prices trimmed demand for coal.
The company expects to book a net profit of 1.6-1.7 trillion rupiah ($150.2 million) this year, Garibaldi said.

Source: Reuters