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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, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
Tuesday, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
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- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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