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