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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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Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
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- Jindal Steel & Power Ltd - India
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- Ministry of Finance - Indonesia
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- Altura Mining Limited, Indonesia
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- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
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- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
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- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
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- Power Finance Corporation Ltd., India
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- Mjunction Services Limited - India
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- Ceylon Electricity Board - Sri Lanka
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- Star Paper Mills Limited - India
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- Sarangani Energy Corporation, Philippines
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- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- The Treasury - Australian Government
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- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
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- Intertek Mineral Services - Indonesia
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- Energy Development Corp, Philippines
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- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
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- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
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- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
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- Coalindo Energy - Indonesia
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- Semirara Mining Corp, Philippines
- The University of Queensland
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- Romanian Commodities Exchange
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- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
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- SMG Consultants - Indonesia
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- Price Waterhouse Coopers - Russia
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- Minerals Council of Australia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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