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Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
 Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro Energy Tbk yesterday lodged its audited consolidated financial statements for the full year of 2015, with lower profitability but a solid liquidity position to weather the current downturn.
According to Adaro Energy’s audited consolidated financial statement, the miner has booked 19% lower revenue at US$ 2,684 million in 2015 due to 7% lower sales volume and 14% lower ASP. The company has also lowered its coal cash cost (excluding royalty) by 16% to US$ 27.98 per tonne, mainly due to lower strip ratio and lower-than-budgeted fuel costs during 2015, and beat its own previous guidance of US$ 31 to US$ 33 per tonne.
Indonesia’s second largest coal miner, PT Adaro Energy is also planning to produce 52 million tons to 54 million tons of coal in 2016 and the company to allocate US$75 million to US$100 million as Capex in 2016.
The company’s 2015 consolidated financial statements indicates that, the global economic environment and its impact on coal prices presented the industry with significant challenges for the company during 2015. According to miner, chronic oversupply continues to weigh on the coal industry. On top of that, lower demand growth in China added downward pressure on coal prices. Adaro energy maintains a strong operational EBITDA margin at 27% in 2015, among the highest of Indonesian thermal coal producers.
Adaro Energy’s President Director and Chief Executive Officer, Mr. Garibaldi Thohir, said: “ We have delivered on our 2015 financial performance targets. Our operations are running well despite challenges in the coal market and volatility in the global economy. We continue to deliver operational excellence with strong performance from our core business. Our Operational EBITDA and Core Earnings reflect Adaro’ s fundamental earning power. We believe this downturn is cyclical and that the fundamentals for coal remain intact. We expect Indonesia, other South East Asian countries and India will require more coal to ensure sufficient electricity to support their economic growth. Our focus is to stay the course, continue our contribution to national development and keep implementing our strategy to strengthen our core for business sustainability.”
The miner has claimed that, despite these difficult conditions, the company’s operations continued to run well and also recorded a 25% increase in coal production from its Balangan mine to 1.11 million tones in 2015. In the last quarter of the year, according to miner, the miner has introduced a new product, a blend of Wara and Balangan coals, which was well received by customers in India and China. The miner said in its financial statement that, the company continues to be a major supplier to the domestic market and committed to supplying Indonesia’s growing coal demand.
However the miner’s total coal production was decreased by 8% to 51.46 million tons in 2015, slightly below its own guidance of 52 to 54 million tones. Due to lower revenue, the cost of royalties to the Government of Indonesia also dropped by 22% to US$277 million in 2015.
“ We continue to improve our operational efficiency and continue to implement initiatives that will increase productivity and lower costs,” says company..
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Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
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- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- PTC India Limited - India
- Heidelberg Cement - Germany
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