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