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