Adaro in Summary
- Five Year Financial Highlights
- 2009 Important Dates and Share Price Information
- Our Vision
- Adaro Described
- Why Adaro?
- Why Adaro?
- 1 Robust industry prospects
- 2 Good track record of growth, large reserves to support continued expansion
- 3 Amongst the world’s largest and lowest cost, vertically integrated producers
- 4 Reputable and supportive shareholders, and experienced management team
- 5 Highly differentiated product - EnvirocoalTM
- 6 Diversified and loyal customer base and high earnings visibility
- 7 Consistently improving financial profile since LBO
- 8 Growth and value ceation set to continue
- 9 Committed to corporate social responsibility
- 10 Excellent safety record
- 11 Award winning performance and standards
- Map of Operations
- Our Subsidiaries = Our Coal Supply Chain
- Vertically Integrated from Pit to Port
- Management Report
- Corporate Overview
- Our Subsidiaries Described
- Review of Operations
- Interview with Chia Ah Hoo, Director of Operations
- Special Section: Historical Photo Album
- Interview with Alastair Grant, Director of Marketing
- Health, Safety and the Environment
- Financial Review
- Interview with David Tendian, Director of Finance
- Special Section: Adaro Bond in the News
- Exploration and Reserves
- Exploring Initiatives for a Bigger and Better Adaro Energy
- Interview with Sandiaga S. Uno, Director
- Governing Adaro
- Status of Corporate Governance Practices
- Implementation of the Company’s Good Corporate Governance
- General Meeting of Shareholders (GMS)
- Board of Directors Training Programs to Enhance Competency
- Board of Commissioners and Board of Directors
- The Board of Commissioners
- Audit Committee
- The Board of Directors
- Board of Directors Meetings
- Nomination of Members of the Boards
- Internal Audit
- External Auditor
- Corporate Secretary
- Remuneration of the Boards
- Share Ownership of the Boards 2009
- Audit Committee Report
- Internal Audit Unit Report
- Interview With Andre J. Mamuaya, Director of Corporate Affairs and Corporate Secretary
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A Look at the Shipping Market in 2009…
In order to get a better appreciation of what transpired in the shipping market through 2009 one need step back from the year itself and look to see when the historical correction took place and how the freight market has subsequently bounced back.
The summer of 2008 had in store bleak news for most in the financial service sectors – dry bulk shipping was not spared either. The last six months of 2008 in fact presented an unprecedented down turn with freight indices experiencing what can only be described as a “never before experienced freefall”. On the opening bell for 2009 almost all in the shipping markets looked to one another as if to ask “What now?” Traders were unable to open freely the letters of credit they had been accustomed to, bankers tightened lending, and prospective spot buyers and sellers watched each other as though playing the final hand in a high stakes poker game.
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What in reality happened was that financial confidence measures via global stimulus packages allowed global trade to get back on track albeit that the primary driver was and remains Asia centric and today by comparison to pre 2003 levels shipping rates are extremely healthy. There remains however the caveat that the new building programme of dry bulk vessels over the coming three years remains a very real challenge particularly when one considers a possible 85 percent fleet expansion in the Cape size segments and around 50 percent in both the Panamax and Handymax segments. To end on a positive note the Asia pacific region presents great opportunity for further growth in the coming years and this growth will be fueled with the need for primary dry bulk commodities that require industrial transportation. |