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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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Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Economic Council, Georgia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Kumho Petrochemical, South Korea
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