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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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Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
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- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
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- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Planning Commission, India
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- Salva Resources Pvt Ltd - India
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- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
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- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
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- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
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- Ministry of Finance - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
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- Xindia Steels Limited - India
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- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
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- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Australian Coal Association
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Parliament of New Zealand
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- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
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- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
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- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
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- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
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- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Indonesian Coal Mining Association
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- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
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- Minerals Council of Australia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
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- Kideco Jaya Agung - Indonesia
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- Port Waratah Coal Services - Australia
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- Global Green Power PLC Corporation, Philippines
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- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
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- Rio Tinto Coal - Australia
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- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
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- Bulk Trading Sa - Switzerland
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- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
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- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
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- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
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- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
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- Aditya Birla Group - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
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