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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$190.4 million, a 29% increase over the same period of last year. SIS’s higher revenue is attributable to increased overburden removal and coal getting volumes following the arrival of new and larger heavy equipment, the report says.
To contact the reporter responsible on this story: Efendi at efendi@coalspot.com
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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Vizag Seaport Private Limited - India
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- Samtan Co., Ltd - South Korea
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- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
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- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
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- Sree Jayajothi Cements Limited - India
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- Antam Resourcindo - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
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- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
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- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
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- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
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- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
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- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
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- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
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- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
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- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
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- PTC India Limited - India
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- Singapore Mercantile Exchange
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- Wood Mackenzie - Singapore
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- Heidelberg Cement - Germany
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