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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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Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
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- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
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- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Australian Coal Association
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- MS Steel International - UAE
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
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- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
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- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
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