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