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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, 31 March 16
CAPE: ANOTHER UNEVENTFUL WEEK WITH FIXTURES CONCLUDED AT LAST DONE LEVELS - FEARNLEYS
Cape
Another uneventful week with fixtures concluded at last done levels, CS levels remain around the USD 3 mark, whilst C3 is still just short o ...
Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
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- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
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