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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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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
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Friday, 10 January 20
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Thursday, 09 January 20
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Thursday, 09 January 20
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- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
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