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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Electricity Generating Authority of Thailand
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- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
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- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
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- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
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- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
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- Renaissance Capital - South Africa
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- Pipit Mutiara Jaya. PT, Indonesia
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- Banpu Public Company Limited - Thailand
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- Parliament of New Zealand
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- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
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- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
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- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Electricity Authority, New Zealand
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- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
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- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
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- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
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- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
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- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
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- Mintek Dendrill Indonesia
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- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
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- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
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- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
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