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