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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, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
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- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
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