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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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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
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- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
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