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Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
 COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 billion for the year 2013.
According to the note posted on the company's website, the company has achieved their FY13 EBITDA guidance of US$750 million to US$900 million, recorded EBITDA of US$822 million, a decline of 25%, and EBITDA margin of 25%.
"Our FY13 Operational EBITDA, which excludes non-operational accounting items, declined by 23% to US$860 million, reflecting the resiliency of our business model and the earning power of the firm" the company said in its report.
The company has also beats company's FY13 coal cash cost (excluding royalty) target of US$35 to US$38 per tonne for FY13 posting coal cash cost of US$34.86 per tonne, down 11% due to cost reduction initiatives and lower than expected fuel prices. For the twelve months ended December 31, 2013, Adaro booked a 12% lower revenue y-o-y of US$3,285 million. The decrease was attributed to lower average selling price (ASP), which was 19% lower y-o-y.
The company's net income for FY13 decreased 40% to US$229 million mainly driven by lower revenue from softer average selling price of coal during 2013, the company claimed.
"We achieved record annual production and delivered on the higher end of our guidance of 50 Mt to 53 Mt, growing by 11% y-o-y to 52.3 Mt from 47.2 Mt. Our 4Q13 production of 13.59 Mt was our second highest quarterly production" said Adaro.
The company further said the capital expenditure in 2013 decreased 66% to US$165 million in-line with the company's target of US$150 million to US$200 million. We achieved record annual production without spending for heavy equipment.
According to company, on the back of strong cash flow from operating activities and reduced capital expenditure, company's FY13 free cash flow increased by 141% to US$568 million.
"Our liquidity remained solid with access to cash of approximately US$1.1 billion, allowing us to weather the current cyclical downturn and continue to execute on our business model", company said.
Garibaldi Thohir, the president director and CEO of Adaro Energy said, we delivered on our 2013 targets, despite macro headwinds. Our operations are running well and we had a record year of production with 52.3 Million MT.
According to Garibaldi Thohir, we believe the fundamentals for the coal industry remain strong supported by increasing demand for energy. ASEAN countries together with China and India will play a major role in energy demand due to large population base, robust economic growth and current low levels of electrification. He believes, Indonesian coal will remain competitive due to its low cost of production and close proximity to major export destinations.
According to Adaro, coal prices in 2013 were under pressure mainly due to an oversupply in the coal market and softer domestic prices in China.
However, for Adaro, the effects of such macro challenges were offset by the strong performance of the company's core business. CEO of Adaro further said, we continue to work together with our contractors, improve the business process and productivity along the coal supply chain, further instill a culture of cost discipline throughout the company, and provide reliable coal supply to our customers.
As for Adaro, we will keep doing what we do best: maintain reliability of coal supply to our customers, continue to improve operational efficiency and strengthen our capital structure. It all boils down to creating maximum value from Indonesian coal and giving our maximum contribution to national development, Garibaldi Thohir, the president director and CEO Adaro Energy concluded, in his note.
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Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Australian Coal Association
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