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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Planning Commission, India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
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