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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, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
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- MS Steel International - UAE
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- White Energy Company Limited
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
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