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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, 21 October 19
COAL TO PLAY SIGNIFICANT ROLE IN SOUTH AFRICA POWER MIX - MINISTER, REUTERS REPORTED
South Africa’s plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a ...
Monday, 21 October 19
ULTRAMAX: IN ASIA, TRIPS FROM THE SINGAPORE AREA WERE PAYING BETWEEN $14,000 AND $16,000, DEPENDING ON THE VESSEL SIZE AND DURATION - BALTIC BRIEFING
Capesize
The market traded in a relatively stable supported manner in the Pacific this week while the Atlantic experienced weakening turbulence ...
Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
Panic drove crude-tanker rates up, very briefly, to mind-bogglingly high assessed levels of around $300,000 per day. Now, the fear factor has been ...
Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
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- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- MS Steel International - UAE
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Australian Coal Association
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
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