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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, 22 September 15
1Q16 FOB INDONESIA COAL SWAP DECLINED 6.49 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 2.29 (-5.42%) per t ...
Tuesday, 22 September 15
FOB RICHARDS BAY COAL SWAPS FALL CONTINUES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Monday, 21 September 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED HIGHER THAN Q2' 16 SWAP
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery increased $0.43 per ton (1.01%) month over month to US$ 42.95 per ton. The ...
Monday, 21 September 15
CFR SOUTH CHINA COAL SWAP GAINED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 0.45 (0.90 %) per ton month over month.
A commodit ...
Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
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