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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, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
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