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