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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- GN Power Mariveles Coal Plant, Philippines
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- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
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- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
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- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
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- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
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- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
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- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
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