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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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Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- The University of Queensland
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
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