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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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Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
Monday, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engin ...
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- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
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- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
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- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
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- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
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