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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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Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
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- Indika Energy - Indonesia
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- Goldman Sachs - Singapore
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- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Central Electricity Authority - India
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- PNOC Exploration Corporation - Philippines
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- Larsen & Toubro Limited - India
- Minerals Council of Australia
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- Independent Power Producers Association of India
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- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Merrill Lynch Commodities Europe
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- Siam City Cement - Thailand
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- The State Trading Corporation of India Ltd
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- Georgia Ports Authority, United States
- Ministry of Mines - Canada
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- Directorate General of MIneral and Coal - Indonesia
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- White Energy Company Limited
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- GMR Energy Limited - India
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- Indian Oil Corporation Limited
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- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
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- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Planning Commission, India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
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- Energy Development Corp, Philippines
- Australian Coal Association
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- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Energy Link Ltd, New Zealand
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- Coal and Oil Company - UAE
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- Kapuas Tunggal Persada - Indonesia
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- The University of Queensland
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- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
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- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
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- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
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- Parliament of New Zealand
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- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
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- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
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- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
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