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Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES


Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share.

Net income benefited from strong production volume growth, robust average selling price (ASP), and continued cost control. 

Net revenue increased 47% to US$3.99 billion while gross  profit margins improved to 35.8% from 30.5% over the same period.

Adaro posted surged 80.4% to 1.28 billion from 711 million, sending a 6% higher margin to 32.2% from 26.2%.

“With our strong performance in 2011, we delivered on our targets, while also executing on our strategic objectives of making acquisitions of  coal deposits in South Sumatra and moving downstream into power generation  in Central Java," said Adaro Energy’s President Director, Garibaldi Thohir in a press statement today.

Operational performance
Coal production volume rose 13% to 47.67 million tons from 42.20 million tons, while sales volume increased 15.8% to 50.78 million tons from 43.84 million tons. Overburden removal increased 32.5% to 299.27 million bcm from 225.87 million bcm.

Adaro targets to produce 50 million-53 million tons this year with EBITDA of US$1.2 billion-US$1.5 billion.
Source: Insider Stories



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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...


Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...


Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...


Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...


Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...


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