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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
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- Indonesian Coal Mining Association
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- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
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- Electricity Authority, New Zealand
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- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
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- Parliament of New Zealand
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- Mintek Dendrill Indonesia
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- Bukit Makmur.PT - Indonesia
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- Agrawal Coal Company - India
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- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
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- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Star Paper Mills Limited - India
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- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
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- Ministry of Mines - Canada
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- Posco Energy - South Korea
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Malabar Cements Ltd - India
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- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
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- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
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- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
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- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
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- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
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- Bharathi Cement Corporation - India
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