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