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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$277 million in 2015.
“ We continue to improve our operational efficiency and continue to implement initiatives that will increase productivity and lower costs,” says company..
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Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
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Showing 2516 to 2520 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
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