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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, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
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- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
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- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
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- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
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- Independent Power Producers Association of India
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- Australian Coal Association
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- ASAPP Information Group - India
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- Ministry of Mines - Canada
- Sojitz Corporation - Japan
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- Chamber of Mines of South Africa
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- Parliament of New Zealand
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- The State Trading Corporation of India Ltd
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- Mintek Dendrill Indonesia
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- Indogreen Group - Indonesia
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- Wood Mackenzie - Singapore
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- Edison Trading Spa - Italy
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- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
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- Thiess Contractors Indonesia
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- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
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- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
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- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
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- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
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- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
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- Merrill Lynch Commodities Europe
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- Iligan Light & Power Inc, Philippines
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- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
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- Ambuja Cements Ltd - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Ministry of Finance - Indonesia
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- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
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- Sinarmas Energy and Mining - Indonesia
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- Ministry of Transport, Egypt
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- Semirara Mining and Power Corporation, Philippines
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- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
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- VISA Power Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
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