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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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Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
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- CNBM International Corporation - China
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
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- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
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- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
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- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- PTC India Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
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- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
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