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