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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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- Medco Energi Mining Internasional
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
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