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Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
 PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The already weakening coal market was further hit by Covid-19 as global industrial and business activities slowed down to curb the virus spread, financial performance report for Q1’20 said.
President Director and Chief Executive Officer, Mr. Garibaldi Thohir, said “Our performance in 1Q20 reflects the operational excellence of our core coal assets as we recorded solid production volume amid the difficult market condition. In this challenging time for the global economy and the coal market, we continue to improve our efficiency, ensure discipline in spending and maintain a solid balance sheet. At the same time we need to safeguard the health and safety of our people to ensure safe, reliable operations. This is an unexpected challenge for all of us, and I would like to acknowledge the effort from our employees who have stepped up to the challenge. Adaro Energy is well-positioned to weather this near-term challenges supported by our solid operations and financial position. Our efficient integrated business model has been proven to withstand coal cycles and the non-coal mining pillars will continue to provide stable contribution to Adaro Energy and balance the volatility of coal.”
According to financial performance report for the period ended March 31, 2020, the company has achieved production of 14.41 Mt, a 5% increase from 1Q19. The company also recorded an operational EBITDA of US$265million,and core earnings of US$136million in the quarter and the meantime, the net capital expenditure in the quarter was US$56 million.
The report further noted that, the company has recorded revenue of US$750 million in 1Q20, declined by 11% compared to the same period in 2019, mainly due to 17% lower average selling price (ASP).
The already subdued coal price was further pressured by slower demand as global economies slowed down due to Covid-19 imposed lockdown. Both thermal coal and metallurgical coal segment of our coal mining operations were adversely impacted as global coal prices declined, AE said in its report.
The report further noted despite the challenging coal market, the company's sales volume increased 8% y-o-y to 14.39 Mt in 1Q20 supported by solid demand. Gross Profit of the company declined 25% year on year to US$ 198 million in 1Q 2020 and gross profit margin declined by 5% to 26.4%. In the meantime, operating income declined to US$ 128 million down 36% and operating margin declined by 6% to 17.1% compared to same period last year.
Royalties to the Government of Indonesia decreased by 13% y-o-y to US$80million, in-line with the lower revenue recorded in 1Q20 as a result of lower ASP y-o-y, the report indicted.
Adaro remains firm with the long term fundamentals of the thermal coal market as regions such as Southeast Asia and South Asia continue to pursue improvements in their power sector.
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Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
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- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Planning Commission, India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
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