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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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