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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, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
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