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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, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
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- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
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- Energy Link Ltd, New Zealand
- The University of Queensland
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
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- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
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- Ministry of Transport, Egypt
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- ICICI Bank Limited - India
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- Indian Oil Corporation Limited
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- Ambuja Cements Ltd - India
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- Cement Manufacturers Association - India
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- Coal and Oil Company - UAE
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- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
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- Orica Australia Pty. Ltd.
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- New Zealand Coal & Carbon
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- Energy Development Corp, Philippines
- Eastern Coal Council - USA
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- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
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- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
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- Romanian Commodities Exchange
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
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- Independent Power Producers Association of India
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- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
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- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
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- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
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- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Australian Coal Association
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- Globalindo Alam Lestari - Indonesia
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- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
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- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
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- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
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- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
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- AsiaOL BioFuels Corp., Philippines
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