RMKE Has Transported 7.5 Million Tons Of Coal Until October 2024

Coal (photo: dock. intermediate)

PT RMK Energy Tbk (RMKE) managed to load 946 ships with a volume capacity of 7.5 million tons of coal until October 2024, an increase of 18.9 percent yoy compared to the same period last year of 6.3 million tons of coal.

President Director of the Company, Vincent Saputra, said that the increase in service volume was supported by the performance in October 2024, where RMKE managed to load the highest volume during operating with 1.1 million tons of coal per month.

"With this volume, RMKE has reached 75.1 percent of the service volume target this year," he said in a statement to the media, Friday, November 22.

Vincent continued, RMKE also succeeded in increasing operational efficiency by maintaining the timeliness of train unloading at the level of 3:40 hours and reducing the ratio of fuel use which fell by 10.8 percent yoy to 0.8 tons per liter.

From the coal sales segment, RMKE also managed to sell 2.31 million tons of coal until October 2024, an increase of 16.5 percent yoy and reached the target of selling coal this year of 66.0 percent.

From the export and local segments contributed 67 percent and 33 percent each to total sales volume. The volume of RMKE coal sales mostly came from third-party coal mines, in-house mining production still contributed 32 percent to total sales volume.

Vincent said the trend of increasing the volume of coal transportation and sales services was supported by the growth in coal demand in the second half of this year, especially the export market.

"Although coal prices tend to fall/stable, the growth in coal sales volume still outperforms and covers the impact of price normalization," Vincent continued.

Vincent further said that the increasing demand for coal in the second half of this year became a positive catalyst for RMKE, especially when entering winter at the end of the year.

"We see RMKE's monthly operating performance, especially in the service segment, is still increasing significantly, especially in October 2024," said VIncent.