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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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Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
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- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Australian Coal Association
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
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