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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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Wednesday, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
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- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Planning Commission, India
- The University of Queensland
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
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