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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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Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- Billiton Holdings Pty Ltd - Australia
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- Economic Council, Georgia
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- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
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- Petron Corporation, Philippines
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- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
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- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
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- Anglo American - United Kingdom
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- European Bulk Services B.V. - Netherlands
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Therma Luzon, Inc, Philippines
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- Ministry of Finance - Indonesia
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- Australian Coal Association
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- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- White Energy Company Limited
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- Indonesian Coal Mining Association
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- Bangladesh Power Developement Board
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- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Cement Manufacturers Association - India
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- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
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- Independent Power Producers Association of India
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- SN Aboitiz Power Inc, Philippines
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- Energy Development Corp, Philippines
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- MS Steel International - UAE
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- Videocon Industries ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
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- Ministry of Transport, Egypt
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- Planning Commission, India
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- GN Power Mariveles Coal Plant, Philippines
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- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
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- Minerals Council of Australia
- Marubeni Corporation - India
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