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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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Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
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- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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