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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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Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
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Showing 2491 to 2495 news of total 6871 |
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- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Planning Commission, India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
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