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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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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
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- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
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- Sakthi Sugars Limited - India
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- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
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- Bangladesh Power Developement Board
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- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Orica Australia Pty. Ltd.
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- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- The University of Queensland
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