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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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Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
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- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Planning Commission, India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- White Energy Company Limited
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
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