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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, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
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- MS Steel International - UAE
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
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