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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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- Vedanta Resources Plc - India
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- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
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- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
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- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
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- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Ministry of Mines - Canada
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- Deloitte Consulting - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
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- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
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- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
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- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
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- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
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- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
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- Planning Commission, India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Kohat Cement Company Ltd. - Pakistan
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- Alfred C Toepfer International GmbH - Germany
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