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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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- Rio Tinto Coal - Australia
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- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
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- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
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- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
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- Ministry of Transport, Egypt
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- International Coal Ventures Pvt Ltd - India
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- Kobexindo Tractors - Indoneisa
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- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
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- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
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- Economic Council, Georgia
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- Indo Tambangraya Megah - Indonesia
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- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
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- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
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- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
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