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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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Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
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- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Power Finance Corporation Ltd., India
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- Eastern Energy - Thailand
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- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
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- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
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- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
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- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
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- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
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- The Treasury - Australian Government
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- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- PTC India Limited - India
- Edison Trading Spa - Italy
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- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
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- PetroVietnam Power Coal Import and Supply Company
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- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
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- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
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- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
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