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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, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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- Ministry of Transport, Egypt
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- Minerals Council of Australia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
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- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
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- Coal and Oil Company - UAE
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- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
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- Deloitte Consulting - India
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- McConnell Dowell - Australia
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- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
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- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
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- Power Finance Corporation Ltd., India
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- SMC Global Power, Philippines
- MS Steel International - UAE
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Siam City Cement - Thailand
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- White Energy Company Limited
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- Commonwealth Bank - Australia
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- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
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- Independent Power Producers Association of India
- Planning Commission, India
- Agrawal Coal Company - India
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- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
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