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Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
 The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net revenue to US$757.2 million compared to the same period last year on the back of the increase in coal prices on the international market.
In its first quarter financial reports issued Sunday, the company said the rise in net revenue was contributed by a higher average selling price during the three-month period.
Net profit rose 11.3 percent to $108.9 million mainly due to the higher average selling price, foreign exchange gains of $8.7 million and no goodwill amortization as compared to $13 million incurred during the previous corresponding period, the company said, as quoted by paper.
“We had a good start to the year and are on the track to reach our 2011 target and implement our strategies to create sustainable value from Indonesian coal,” Adaro president director Garibaldi Thohir said in a written statement.
The company said profit increased despite the 6.8 percent and 4.8 percent decline in production and sales volume respectively, to 10.59 million tons and 10.91 million tons during the same period last year.
Production in the first quarter of 2011 declined from the same period last year as Adaro was unable to complete pre-stripping activities in preparation for the wet season due to unusual weather during 2010. The company’s production during the first and fourth quarters tends to be lower because of high rainfall during these periods.
Given the first quarter performance, Adaro is on track to achieve its forecasted production volume. The company’s cost of revenue increased 16.5 percent to $507.3 million due to higher planned strip ratio and longer overburden hauling distances.
Starting from 2011, Adaro will report its financial statements and notes in US dollar to minimize foreign currency conversion effects, considering all of the company’s subsidiaries report their accounts in US dollars as most of their income, costs and debts are denominated in dollars.
Adaro Energy is the second-largest thermal coal producer in Indonesia and is a significant supplier to the global thermal coal market. It continues to maintain a geographically diversified customer base by supplying no more than 10 percent of its sales volume to any one customer.
Source: The Jakarta Post
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Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
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- Ind-Barath Power Infra Limited - India
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- Central Electricity Authority - India
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- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
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- Wilmar Investment Holdings
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- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
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- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
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- Petron Corporation, Philippines
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- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
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- The Treasury - Australian Government
- Attock Cement Pakistan Limited
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- White Energy Company Limited
- Thai Mozambique Logistica
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- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
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- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Eastern Energy - Thailand
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- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
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- Bayan Resources Tbk. - Indonesia
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- AsiaOL BioFuels Corp., Philippines
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- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
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- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
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- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
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- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
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- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
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