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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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Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
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- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
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