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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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Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
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Showing 3821 to 3825 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
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