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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, 21 October 19
COAL TO PLAY SIGNIFICANT ROLE IN SOUTH AFRICA POWER MIX - MINISTER, REUTERS REPORTED
South Africa’s plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a ...
Monday, 21 October 19
ULTRAMAX: IN ASIA, TRIPS FROM THE SINGAPORE AREA WERE PAYING BETWEEN $14,000 AND $16,000, DEPENDING ON THE VESSEL SIZE AND DURATION - BALTIC BRIEFING
Capesize
The market traded in a relatively stable supported manner in the Pacific this week while the Atlantic experienced weakening turbulence ...
Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
Panic drove crude-tanker rates up, very briefly, to mind-bogglingly high assessed levels of around $300,000 per day. Now, the fear factor has been ...
Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
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- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
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