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Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
 COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. However, despite Challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
Indonesia’s second largest coal producer Adaro Energy lodged its un-audited consolidated financial statements for the first nine months of 2015 on 30 October 2015.
“We recognize the tremendous pressure on our profitability as coal prices continue to drop. The challenging conditions have tested our vertically integrated business model and our results have shown the resiliency of the business model,” said Mr. Garibaldi Thohir, President Director and Chief Executive Officer of Adaro Energy.
He further said that, “ we will achieve our FY15 operational EBITDA guidance of US$550 million to US$800 million. We are staying the course and keep implementing our strategy to strengthen our core for business sustainability.”
“ We continue with our strategy to develop the three engines of growth for our company – coal mining, mining services and logistics, and power. We continue to execute operational excellence, improve cost efficiencies along our coal supply chain, strengthen our logistics unit, move further downstream into power and pay an annual cash dividend,” said President Director and Chief Executive Officer of Adaro Energy.
According to Adaro’s press release, the company has revised its production guidance for 2015 to 52 - 54 Million tonnes (Mt) from 54 – 56 Mt.
The company’s Average Selling Price (ASP) has declined year over year as oversupply persists in the coal market. Adaro has recorded 14% lower Average Selling Price (ASP) year over year for the nine month period to September 2015.
Adaro further noted that, the miner’s revenue fell 16% to US$ 2.112 billion as company’s sales volume declined 3% to 41.2 Mt for the nine month period to September 2015. Production volumes also decreased 5% to 39.8 Mt due to lower demand growth.
According to the press report, the company is still anticipating market conditions to continue to be difficult for the rest of the year. Demand growth will remain sluggish and prices will continue to be in a descending mode for the rest of the year.
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Friday, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
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- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
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- Eastern Coal Council - USA
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- SMG Consultants - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
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- Semirara Mining Corp, Philippines
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- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
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- Rio Tinto Coal - Australia
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- Toyota Tsusho Corporation, Japan
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- Merrill Lynch Commodities Europe
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- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
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- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
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- Planning Commission, India
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- Sical Logistics Limited - India
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- Indonesian Coal Mining Association
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- London Commodity Brokers - England
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- Larsen & Toubro Limited - India
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- The University of Queensland
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- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
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- SMC Global Power, Philippines
- ASAPP Information Group - India
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- ICICI Bank Limited - India
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- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
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- Aboitiz Power Corporation - Philippines
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- Metalloyd Limited - United Kingdom
- White Energy Company Limited
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- Economic Council, Georgia
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- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Intertek Mineral Services - Indonesia
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- Thai Mozambique Logistica
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- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
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- Star Paper Mills Limited - India
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- Price Waterhouse Coopers - Russia
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- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
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