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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Petron Corporation, Philippines
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