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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, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
...
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- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
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- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Planning Commission, India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
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