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Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
 COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fold from the same period of the last year and hit to a record. The strong net income was bolstered by higher production volume combined with higher average selling prices, despite an increase in the cost of revenue.
Adaro’s net revenue increased 36 percent to US$ 1.8 billion while cost of revenue at a lesser rate of 34 percent to US$ 1.2 billion, according financial press release of company, today.
“We are delighted with our record first half earnings, driven by the solid performance of our operations and higher realized prices. The outlook for coal remains robust. We remain on track to achieve our full year production target of 46-48 million tones and deliver a healthy EBITDA of US$ 1.1-1.3 billion,” said Garibaldi Thohir, president director of Adaro Energy.
According Garibaldi, Adaro performance during the second quarter of 2011 had a record due to the arrival of new and larger heavy equipment combined with Adaro contractors’ good performance. Adaro production and sales volume for 1H-2011 has increased 5.5 percent and 10.4 percent to 22.81 million tones and 24.02 million tones compared to 1H2010.
Meanwhile, the average selling price also climbed 23 percent due to higher thermal coal prices. Cash cost (excluding royalty) increased 23 percent to US$ 40 per tonne due to the higher planned strip ratio, longer overburden hauling distances, and rising fuel costs. “However, we continue maintain a healthy industry topping EBITDA margin of 35%,” Garibaldi added.
Coal Mining and Trading
PT Adaro Indonesia (AI), remained the largest revenue contributor Adaro Energy, accounting for 92% of net revenue, while trading division of Adaro Energy, Coaltrade Services International Pte. Ltd. (CTI), contributed a small part of the coal mining and trading segment. accordign to report.
Mining Services
PT Saptaindra Sejati (SIS), mining services division of Adaro Energy, recorded 1H11 revenue of US$190.4 million, a 29% increase over the same period of last year. SIS’s higher revenue is attributable to increased overburden removal and coal getting volumes following the arrival of new and larger heavy equipment, the report says.
To contact the reporter responsible on this story: Efendi at efendi@coalspot.com
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Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
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- Vedanta Resources Plc - India
- Australian Coal Association
- Bhatia International Limited - India
- Ministry of Mines - Canada
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- The University of Queensland
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- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
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- London Commodity Brokers - England
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- Parliament of New Zealand
- Economic Council, Georgia
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- Sinarmas Energy and Mining - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
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- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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- IEA Clean Coal Centre - UK
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- Africa Commodities Group - South Africa
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- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
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- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
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- PowerSource Philippines DevCo
- Independent Power Producers Association of India
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- Thiess Contractors Indonesia
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- Holcim Trading Pte Ltd - Singapore
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- Alfred C Toepfer International GmbH - Germany
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- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
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- GN Power Mariveles Coal Plant, Philippines
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- Energy Development Corp, Philippines
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- European Bulk Services B.V. - Netherlands
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- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
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- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
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- Chamber of Mines of South Africa
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- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
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- Videocon Industries ltd - India
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- White Energy Company Limited
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Indogreen Group - Indonesia
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- Indian Energy Exchange, India
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