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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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Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
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- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
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- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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