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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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Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
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- Malabar Cements Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Parliament of New Zealand
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
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