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Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
 Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global low coal prices continue to weaken the company’s financial condition.
In a press release published in the Indonesian Stock Exchange (IDX), Adaro revealed that its net profits slumped by around 31 percent to US$171.77 million annually, despite a 6.9 percent increase in its revenue to around $1.69 billion in the first six months of 2013.
Coal prices have dropped over the past year amid oversupply and declining demand from China — the world’s largest coal importer — and the prices have yet to pick up this year.
Indonesia’s coal reference price (HBA) was set at $73.64 per ton in June, which was 11.22 percent lower than the $81.9 per ton set for January this year. Last year, coal prices sagged by 8.26 percent from January to June.
Adaro’s written statement said that its average selling price (ASP) slipped by 5 percent year-on-year, leading the coal miner to post a lower profit in its first six months performance.
According to the quarterly report, Adaro sold 28.25 million tons of coal in the first half of the year, rising about 14 percent compared with 25 million tons in the same period last year.
Adaro sold the biggest portion of its product to the domestic market, amounting to around 22 percent of its total sales, with the remainder shipped overseas.
The company’s exports to India constitute 20 percent of the total sales, China 13 percent, Japan 10 percent, South Korea 9 percent and Spain and Hong Kong both 7 percent.
Exports to Malaysia make up 6 percent of total sales, while those to Taiwan, the Philippines and the United States contribute less than 5 percent.
Adaro’s production went up by about 12 percent, from around 24.94 million tons in the first half of last year to around 27.83 million this year.
The company aims to produce 56 million tons of coal this year, an increase of about 6 percent compared with last year’s production of 52.7 million tons.
The newly acquired Balangan site, meanwhile, started production in the second quarter of the year with total output for the period standing at 77,335 tons of coal, about 53,724 tons of which were exported to Thailand.
Despite the unfavorable coal market, other Indonesian miners also mostly raised their production. According to data from the Energy and Mineral Resources Ministry, the country’s coal output rose 7.6 percent to 213 million tons from January to June, from 198 million tons in the same period last year.
Source: The Jakarta Post
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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
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- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
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- The Treasury - Australian Government
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- Central Electricity Authority - India
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- Ceylon Electricity Board - Sri Lanka
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- IHS Mccloskey Coal Group - USA
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- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
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- Bhatia International Limited - India
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- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
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- Petron Corporation, Philippines
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- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
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- Electricity Authority, New Zealand
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- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
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- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
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- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
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- Ministry of Finance - Indonesia
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- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
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- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
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- Cement Manufacturers Association - India
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- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
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- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
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