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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, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
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- PTC India Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Parliament of New Zealand
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Australian Coal Association
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
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