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Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
 The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net revenue to US$757.2 million compared to the same period last year on the back of the increase in coal prices on the international market.
In its first quarter financial reports issued Sunday, the company said the rise in net revenue was contributed by a higher average selling price during the three-month period.
Net profit rose 11.3 percent to $108.9 million mainly due to the higher average selling price, foreign exchange gains of $8.7 million and no goodwill amortization as compared to $13 million incurred during the previous corresponding period, the company said, as quoted by paper.
“We had a good start to the year and are on the track to reach our 2011 target and implement our strategies to create sustainable value from Indonesian coal,” Adaro president director Garibaldi Thohir said in a written statement.
The company said profit increased despite the 6.8 percent and 4.8 percent decline in production and sales volume respectively, to 10.59 million tons and 10.91 million tons during the same period last year.
Production in the first quarter of 2011 declined from the same period last year as Adaro was unable to complete pre-stripping activities in preparation for the wet season due to unusual weather during 2010. The company’s production during the first and fourth quarters tends to be lower because of high rainfall during these periods.
Given the first quarter performance, Adaro is on track to achieve its forecasted production volume. The company’s cost of revenue increased 16.5 percent to $507.3 million due to higher planned strip ratio and longer overburden hauling distances.
Starting from 2011, Adaro will report its financial statements and notes in US dollar to minimize foreign currency conversion effects, considering all of the company’s subsidiaries report their accounts in US dollars as most of their income, costs and debts are denominated in dollars.
Adaro Energy is the second-largest thermal coal producer in Indonesia and is a significant supplier to the global thermal coal market. It continues to maintain a geographically diversified customer base by supplying no more than 10 percent of its sales volume to any one customer.
Source: The Jakarta Post
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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Minerals Council of Australia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
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