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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$190.4 million, a 29% increase over the same period of last year. SIS’s higher revenue is attributable to increased overburden removal and coal getting volumes following the arrival of new and larger heavy equipment, the report says.
To contact the reporter responsible on this story: Efendi at efendi@coalspot.com
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Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
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