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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, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
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- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
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