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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$190.4 million, a 29% increase over the same period of last year. SIS’s higher revenue is attributable to increased overburden removal and coal getting volumes following the arrival of new and larger heavy equipment, the report says.
To contact the reporter responsible on this story: Efendi at efendi@coalspot.com
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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
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