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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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Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
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- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
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- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
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- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
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- Minerals Council of Australia
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- GAC Shipping (India) Pvt Ltd
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- Price Waterhouse Coopers - Russia
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- Indian Oil Corporation Limited
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- Coal and Oil Company - UAE
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- Parliament of New Zealand
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- Coalindo Energy - Indonesia
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- Energy Link Ltd, New Zealand
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- Romanian Commodities Exchange
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- Africa Commodities Group - South Africa
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- Australian Commodity Traders Exchange
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- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
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- Wilmar Investment Holdings
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- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
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- Dalmia Cement Bharat India
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- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
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- White Energy Company Limited
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- Thai Mozambique Logistica
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- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
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- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
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- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
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- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
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- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
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- Australian Coal Association
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- TNB Fuel Sdn Bhd - Malaysia
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- PowerSource Philippines DevCo
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- Bhoruka Overseas - Indonesia
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- Carbofer General Trading SA - India
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- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
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- Kartika Selabumi Mining - Indonesia
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- Global Business Power Corporation, Philippines
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- Banpu Public Company Limited - Thailand
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- The State Trading Corporation of India Ltd
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- Thiess Contractors Indonesia
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- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
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- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
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