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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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- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- The University of Queensland
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
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