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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$190.4 million, a 29% increase over the same period of last year. SIS’s higher revenue is attributable to increased overburden removal and coal getting volumes following the arrival of new and larger heavy equipment, the report says.
To contact the reporter responsible on this story: Efendi at efendi@coalspot.com
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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
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