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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, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
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, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Planning Commission, India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- The University of Queensland
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- India Bulls Power Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
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