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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
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