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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, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
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- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
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