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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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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- Jindal Steel & Power Ltd - India
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- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
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- Central Electricity Authority - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
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- Chamber of Mines of South Africa
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- Economic Council, Georgia
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- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Energy Development Corp, Philippines
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- Agrawal Coal Company - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
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- McConnell Dowell - Australia
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- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
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- Latin American Coal - Colombia
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- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
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- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
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- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
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- Indonesian Coal Mining Association
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
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- PNOC Exploration Corporation - Philippines
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