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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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Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
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- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
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- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
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- Toyota Tsusho Corporation, Japan
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- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
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- The Treasury - Australian Government
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- OPG Power Generation Pvt Ltd - India
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- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
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- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
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- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
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- Energy Development Corp, Philippines
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- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
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- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
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- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
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- Savvy Resources Ltd - HongKong
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- Bayan Resources Tbk. - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
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- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- The University of Queensland
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Thai Mozambique Logistica
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- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
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- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
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- Globalindo Alam Lestari - Indonesia
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