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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- PTC India Limited - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
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