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