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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, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
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