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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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Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
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- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
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- Planning Commission, India
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- Australian Coal Association
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- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
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- The Treasury - Australian Government
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- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Posco Energy - South Korea
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- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
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- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
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- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
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- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
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