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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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Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
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