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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, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
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- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
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