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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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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Indian Oil Corporation Limited
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- Australian Commodity Traders Exchange
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- Baramulti Group, Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
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- Africa Commodities Group - South Africa
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
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- Economic Council, Georgia
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- Sarangani Energy Corporation, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Parliament of New Zealand
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- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
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- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
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- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
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- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
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- LBH Netherlands Bv - Netherlands
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
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- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
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- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
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- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
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- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
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- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
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- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
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- White Energy Company Limited
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- Ministry of Finance - Indonesia
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