Coal exports will reach 199 million by 2014
Economy March 23rd, 2010
Exports of Indonesian coal would have jumped 13.71% to 199 million tons in 2014 from an estimated 175 million tons this year, adjusting to the increasing demand for energy resources in the global marketplace.
So said Director General of Mineral, Coal, and Geothermal (Minerbapabum) Ministry of Energy and Mineral Resources, Bambang Setiawan today as quoted by Bloomberg.
In addition to the export market demand is soaring, he also predicted coal demand in the domestic market will rise from 75 million tons this year to 110 million tons in 2014, up 46.67%.
In addition to volume increases, coal prices also continued to rise, especially in the last month. Indonesia as one of the country’s largest coal exporter national potential of this benefit.
Based on data GlobalCoal, coal prices for the January 1, 2010 in Newcastle, Australia, located at the level of U.S. $ 84.75 per ton. This price is lower than the previous week on December 25, 2009 at the level of U.S. $ 86.00, but still higher than the selling price average in December which amounted to U.S. $ 81.85 per ton.
Prospects for coal prices pushed energy shares are booked based on profits. Shares of PT Bumi Resources Tbk rose 1.87% or Rp50 to the level at Rp2.725 this afternoon, with transaction value of Rp1, 4 trillion.
Shares of PT Adaro Energy Tbk suffered the same fate, rose 1.12% or Rp20 be Rp1.810, followed by shares of PT Indo Tambangraya Megah Tbk which rose 0.30%, or Rp100 a Rp33.400. Then, the shares of PT Tambang Coal Bukit Asam Tbk surged 2.25%, or Rp400 a Rp18.200.
Increase in number of coal-based shares are held joint-stock price index (JCI) from falling further. At 15:07 o’clock time JATS closed down 0.12% or 3.05 points to 2602.23 level than the opening position at the level of 2605.48.
Oil contract dropped to below U.S. $ 82 per barrel
Economy March 23rd, 2010
The price of crude oil on the New York Mercantile Exchange fell on the second day following the cold weather prediction in the eastern U.S. will subside this week, so potentially cut demand for heating oil.
EarthSat Energy Weather of MDA Federal Inc., institution forecaster, predicts above-normal temperatures will begin to move to the cities in the eastern United States such as New York and Boston this week.
National Weather Service said temperatures average in New York in the first 10 days of this year reached 27 degrees Fahrenheit or minus 3 degrees Celsius. The temperature was 6 degrees below normal.
Northeastern United States is heating oil consuming region at most, four-fifths of the country’s consumption level. ASS itself is the largest oil consumer in the world.
Weather forecast raises speculation declining level of demand, thus pushing the oil prices fell on the second day of trading. “According to weather forecasters, the cold temperatures in the U.S. seems to have subsided. For heating oil and distillate oil demand could be reduced in the weeks and months ahead,” said Ben Westmore, energy and minerals economist at National Australia Bank Ltd., based in Melbourne , Australia.
The price of crude oil contracts for February delivery on the New York Mercantile Exchange fell 53 U.S. cents, or 0.6% to U.S. $ 81.99 per barrel. This contract is traded on the level of U.S. $ 82.13 at 8:33 AM Singapore time yesterday. The price of this futures contract fell 23 cents, or 0.3% to as low as U.S. $ 82.52 per barrel yesterday.
Previously, this oil futures touched $ 83.95 U.S. level, which is the highest level since October 14, 2008. Terdongkrak oil price data of a report mentioning China, as the second largest oil consumer world, to boost the purchase of oil to penetrate the record last year. In addition, oil prices also rose because the dollar weakened against the euro. U.S. dollar always move opposite oil prices.
Sony did press costs of internal consolidation
Company Info March 23rd, 2010
Sony Corp. plans to consolidate operations with the international distribution of video-game unit in order to reduce overlapping costs.
Companies based in Tokyo and Sony Computer Entertainment Inc., the software and hardware vendors PlayStation 3, will combine the distribution route. Thus the statement a company spokesman who commented on Mami Imada Nikkei daily news. He refused to explain the estimated savings from the move.
Product distribution costs that business groups expected to increase 50% next fiscal year, after falling 25% to 150 billion yen (U.S. $ 1.6 billion) in the 12 months up to March 31.
Sony, which project the annual loss for the second time, cutting about 20,000 workers and make savings of 330 billion yen to rebuild the profitability of the television and gaming units until March 2011. Company’s operating margin target of 5%.
Sony shares rose 1.5% to 2715 yen at 10:36 am on the Tokyo Stock Exchange today, higher than the increase in the index Nikkei 225 Stock Average of 1%
Samurai bonds are expected to rise the first semester
Portfolio March 16th, 2010
The government hopes the publication of yen-denominated government bonds (Samurai bonds) of U.S. $ 750 million-US $ 1 billion to guarantee Japan Bank for International Cooperation (JBIC) can be done in semester I/2010.
Coordinating Minister Hatta Rajasa said the government was doing discussions with Japan about when samurai bond issuance was. “We hope soon. Discussion has begun. If we expect the semester I/2010 done,” he said today.
According to him, the Japanese government is very concerned the development of economic corridors in Indonesia so that the samurai bond issuance can be realized.
“In a conversation yesterday, including my conversation with Naoshima [Minister of Industry of Japan], there is the desire of Japan to develop the economic corridor that is felt is an important component of infrastructure to encourage investment,” he said.
Hatta said earlier that granting warrants for the issuance of Samurai bonds is one form of cooperation Indonesia-Japan. Issuance of this year will be a continuation of the utilization of JBIC’s guarantee facility emissions last year after U.S. $ 350 million.
Finance Minister Sri Mulyani Indrawati himself argued the agenda for the Samurai bond issue this year has become government consideration. The amount must be adjusted to the 2010 state budget financing needs that can still change.
Government use of the Samurai bond issuance guarantee facility of JBIC for the Japanese development bank is rated AAA. The total value of the guarantee provided the Government of Japan through JBIC is U.S. $ 1.5 billion.
UK retail sales grow 6%
Economy March 16th, 2010
UK retail sales grew 6% in December last year driven by a rise in the number of products, such as food.
Data from the British Retail Consortium and KPMG showed sales increases for food products in the October to December 2009 reached 4.4%. Sales in December is the highest figure since June last year.
Sales spike also occurred in the product category nonmakanan. Winter trigger the growth of purchases of clothing and footwear products.
The increase also occurred in other household products that consumers hunted for Christmas.
Sales outside of retail store network, such as ordering via the Internet and telephone is also seen increases for products other than food, jumped to 26.5%. Snow stopped herself buyers to visit the store.
As a result many consumers who choose to order the desired products without ever leaving home. In the last month, sales outside of retail stores for nonmakanan products grew by 16.9%.
Sharon Hardiman, Head of Non-Store Retailing British Retail Consortium, said that the current sales outside the store contributed only 4% of total retail sales.
