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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, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
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$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
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- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- The University of Queensland
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Australian Coal Association
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Planning Commission, India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
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