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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Planning Commission, India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
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