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Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
 COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, the company said in a statement.
The company further said, "our average selling price (ASP) declined 7%, cost of revenue declined 1% to US$599 million while EBITDA increased 81% to US$306 million resulting in an EBITDA margin of 36%". Company's net income for 1Q14 increased 344% to US$131 million mainly due to higher sales volume and lower costs, the company's recently issued statement said.
In the meantime, Adaro's 1Q14 operational EBITDA and core earnings, which excluded non-operational accounting items, increased 74% to US$294 million and 221% to US$137 million, respectively. Operational EBITDA was lower than the reported EBITDA due to a one-time gain.
Adaro also lowered its coal cash cost (excluding royalty) 24% to US$29.82 per tonne in 1Q14, mostly due to the seasonally lower strip ratio, although overburden volumes increased 10%, as well as lower freight and handling, lower fuel cost, and other cost reduction initiatives. We started reporting stripping costs in 2014 on an actual cost basis, the company's statement said.
Adaro increased production volume 22% in 1Q14 to 14.0 Mt and sales volume by 23% to 13.9 Mt due to strong demand for its coal, Adaro claimed in its statement. According to its statement, Adaro's coal volumes slightly exceeded the plan for 1Q14, while overburden volumes were 95% of the plan.
Adaro's net capital expenditure during 1Q14 has decreased by 62% to US$18 million due to delays. "We are on track to achieve our capital expenditure guidance of US$200 million to US$250 million", said company.
Adaro also declared that, the company has generated strong positive free cash flow of US$84 million. Company claimed in its statement that, Company's capital structure improved as the company has reduced debt by 6% and increased company's cash position 48% to $828 million, resulting in net debt to last 12 months EBITDA of 1.48x and net debt to equity of 0.43x as of the end of 1Q14.
"Liquidity was strong with access to cash of approximately US$1.2 billion, allowing us to weather the current cyclical downturn and continue to execute on our business model" the company said in its statement.
"We will continue to preserve cash, strengthen our capital structure and extend the maturity profiles of our borrowings", Adaro has concluded in its latest statement.
According to local media reports, Adaro is controlled by five businessmen — Edwin Soeryadjaya, Theodore Permadi Rachmat, Garibaldi Thohir, Subianto and Sandiaga S. Uno — who collectively own 64.55 percent of its shares.
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Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
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- Karbindo Abesyapradhi - Indoneisa
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- Tata Chemicals Ltd - India
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- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
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- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
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- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
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- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
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- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
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- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
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- Cement Manufacturers Association - India
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- IEA Clean Coal Centre - UK
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- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
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- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
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- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
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- Aboitiz Power Corporation - Philippines
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- PetroVietnam Power Coal Import and Supply Company
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- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
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- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
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- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
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- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
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- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
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- Global Business Power Corporation, Philippines
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- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
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- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
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- Timah Investasi Mineral - Indoneisa
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- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
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- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
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- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
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- Indian Oil Corporation Limited
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- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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