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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$190.4 million, a 29% increase over the same period of last year. SIS’s higher revenue is attributable to increased overburden removal and coal getting volumes following the arrival of new and larger heavy equipment, the report says.
To contact the reporter responsible on this story: Efendi at efendi@coalspot.com
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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- CNBM International Corporation - China
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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