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Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
 COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s second largest coal producer, Adaro Energy has recorded lower production, lower strip ratio, lower than expected fuel costs, lower freight and handling costs and continue to implement cost efficiency measures to challenge the current world’s low coal price trend for the nine months period to September 2015.
The world’s low coal prices affected the company’s core earnings. According to company’s press release, the Adaro’s core earnings decline 21% to US$228 Million year over year for the nine months period to September 2015.
The report further noted that, Adaro is still anticipating market conditions to continue to be difficult for the rest of the year and demand growth will remain sluggish and prices will continue to be in a descending mode for the rest of the year.
The miner’s coal cash cost (excluding royalties) declined 13% to US$28.61 per tonne, which is below company’s guidance of US$31 – 33 per tonne. In the meantime, the fuel cost, a significant component of company’s coal cash cost, decreased by 39% to the low US$0.50s per liter, the report says.
The company has also hedged about one third of company’s annual fuel requirements through fuel swaps at prices below the budget company set for 2015, which helps the company to keep the coal cash cost under control.
The company also said, the royalties paid to the Government of Indonesia in 9M15 decreased 18% to US$217 million, in-line with the lower revenue. Royalties accounted for 13% of the company’s total cost of revenue in 9M15.
According to press release, the Adaro has booked 19% lower Operational EBITDA at US$568 million in 9M15 due to the lower revenue. However, the company said, “We maintained a solid Operational EBITDA margin of 27% in 9M15. Our Operational EBITDA excludes a US$7 million reversal of provision for other receivables related to a non-coal investment. We are on track to achieve our 2015 Operational EBITDA guidance of US$550 million to US$800 million.”
According to press release, the prolonged cyclical downturn of coal further supports company’s strategy of developing its non-coal mining businesses and moving downstream into power. Coal mining, mining services and logistics, and power form the three engines of growth for Adaro.
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Friday, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
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- Kohat Cement Company Ltd. - Pakistan
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- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
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- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
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- Thiess Contractors Indonesia
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- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
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- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
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- Australian Commodity Traders Exchange
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- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
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- SMC Global Power, Philippines
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- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
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- Antam Resourcindo - Indonesia
- Planning Commission, India
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- Trasteel International SA, Italy
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- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
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- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
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- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
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- Agrawal Coal Company - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
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- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
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