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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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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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