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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$800 million.”
According to press release, the prolonged cyclical downturn of coal further supports company’s strategy of developing its non-coal mining businesses and moving downstream into power. Coal mining, mining services and logistics, and power form the three engines of growth for Adaro.
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Monday, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Australian Coal Association
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
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