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Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
 PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
President Director and Chief Executive Officer, Mr. Garibaldi Thohir, said “We deliver solid financial results on the back of healthy volume growth year-on-year. Demand for our coal remains solid, yet global coal prices continued to be under pressure due to macroeconomic and industry headwinds. In the midst of this challenging time, we continue to focus on operational excellence and efficiency. We remain positive on the long-term coal market fundamentals and continue to execute our strategy for business sustainability. Our recent bond issuance will further strengthen our financial position and capital structure to weather the short-term market volatility.”
Adaro recorded an operational EBITDA of US$976 million and maintained solid operational EBITDA margin at 37%. Adaro says, the company is in line to achieve the company's 2019 operational EBITDA guidance of US$1-US$1.2 billion. The company's core earnings remained at US$513 million and liquidity is at US$1,267 million, with cash balance of US$1,008 million. Adaro's balance sheet stood at healthy level with Net debt to equity and net debt to last 12 months operational EBITDA of 0.06x and 0.22x, respectively.
Adaro's revenue according to the report, reached US$2,654 million in 9M19, relatively flat year-over-year (y-o-y). The company also recorded 14% increase in sales volume to 44.66 Mt y-o-y, however Adaro's average selling price (ASP) was 13% lower y-o-y as coal prices declined. In 9M19, Adaro mined 44.13 Mt of coal, a 13% increase y-o-y.
"Solid demand for our coal during the period and strong operations performance supported the improvement. We are on track to achieve our 2019 production guidance of 54-56 Mt", Adaro says.
The dry weather in 3Q19 contributed to the AE's strong operational achievement. According to report, the AE’s coal production in 9M19 of 44.13 Mt was 13% higher compared to 9M18, while our sales volume increased 14% y-o-y to 44.66 Mt in 9M19. AE’s coal production in 3Q19 reached 15.66 Mt, 5% higher than 3Q18, which marked a new record for quarterly production.
The company's sales of coal in 3Q19 increased 3% compared to 3Q18 to 15.89 Mt. Adaro says, the Southeast Asia region continued to be their main sales destination and accounted for 40% of AE’s sales volume in 9M19. Adaro also says, they had strong buying interest from India in 3Q19, as a result of high power generation demand in the country.
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Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
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- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
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