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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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Monday, 08 April 19
SULPHUR 2020 - COUNTDOWN TO THE SWITCHOVER - LLOYD'S REGISTER
Sulphur 2020 (MARPOL Annex VI Reg. 14.1.3) is still dominating headlines and as we draw closer to the 1 January 2020 deadline it’s clear that ...
Monday, 08 April 19
INDONESIAN COAL PRICE REFERENCE PRICE PLUMMETS TO LOW NOT SEEN SINCE AUGUST 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Sunday, 07 April 19
SHIP PASSAGE PLANS - NO ROOM FOR ERROR! - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The English High Court’s judgment in Alize 1954 v Allianz Elementar Versicherungs AG (The CMA CGM Libra) is an impo ...
Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
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- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
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