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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, 21 October 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In today’s dry bulk market, both freight rates and asset prices are creating mixed feelings to seasoned ship owners, who tend to instinctivel ...
Wednesday, 21 October 15
INDONESIAN COAL MINER BUKIT ASAM POSTS POSITIVE PERFORMANCE DURING FIRST THREE QUARTERS OF 2015
COALspot.com: Indonesian publicly listed and state controlled coal miner PT. Bukit Asam has announced that, the company’s coal sales up 8 per ...
Wednesday, 21 October 15
LOWER DEMAND HIT Q1' 16 INDONESIA COAL SWAPS
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 1.88 (-4.71%) per t ...
Tuesday, 20 October 15
SHIPBROKER SEES CAPESIZE RATES EASILY REACHING $25,000/DAY BY YEAR-END : NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future course of the dry bulk market has been troubling market participants for quite some time now, as the “elusive” freight rate ...
Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
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- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
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