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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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Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Planning Commission, India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
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