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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, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
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- Rashtriya Ispat Nigam Limited - India
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- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
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- Deloitte Consulting - India
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- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
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- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
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- GVK Power & Infra Limited - India
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- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
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- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
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- Ministry of Transport, Egypt
- Planning Commission, India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
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- Gujarat Sidhee Cement - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
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- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
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- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
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- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
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- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
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- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
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- The State Trading Corporation of India Ltd
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- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
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- Kumho Petrochemical, South Korea
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