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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, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
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Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
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- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
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