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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, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
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- Toyota Tsusho Corporation, Japan
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- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
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- Madhucon Powers Ltd - India
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- South Luzon Thermal Energy Corporation
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- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Australian Coal Association
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- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
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- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
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- Cement Manufacturers Association - India
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- PowerSource Philippines DevCo
- London Commodity Brokers - England
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- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Alfred C Toepfer International GmbH - Germany
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- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
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- Jaiprakash Power Ventures ltd
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- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
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