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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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Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
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