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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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Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
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