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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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Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
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- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
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