We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
 PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”).
The Company recorded an improved volume of 25% QoQ to 65.0 million bcm and revenue increased by 49% QoQ to US$160 million on the back of coal price recovery that continued to strengthen at the beginning of 2021.
According to the report, overburden removal volume for 1Q 2021 was 65.0 million bcm, 25% higher from 52.1 million bcm recorded in 4Q 2020. Coal production was 12.7 million tonnes in 1Q 2021, 10% higher compared to 11.4 million tonnes in 4Q 2020. Volume recovery was visible in 1Q 2021, despite being affected by heavier rainfall and ramp up challenges. The Company is on track to meet volume target for the year.
The report further noted that, Net revenues for 1Q 2021 was US$160 million, 49% higher QoQ than US$108 million recorded in 4Q 2020. EBITDA was US$31 million for 1Q 2021, a 149% increase compared to US$13 million in 4Q 2020. Coal price recovery has led to higher rates despite volume not fully recovered yet. However, the Company incurred upfront costs related to recovery ramp up efforts and higher costs due to certain challenging work area. Therefore, EBITDA margin was impacted at 21.8%.
Net loss of US$26 million was recorded for 1Q 2021 compared to US$19 million net loss in previous quarter, given the Company incurred certain refinancing cost in 1Q 2021.
th report says, free cash flows generation was at US$13 million and operating cash flows was at US$27 million in 1Q 2021. This is mainly the result of ramp up activities that require upfront expenditures and transaction costs related to refinancing. Total capital expenditure spent was US$14 million for 1Q 2021. The Company expects higher capex spending for the year as we prepare for incremental volumes. Net debt5) was US$452 million as of March 31st, 2021 and the Company’s consolidated net debt to EBITDA ratio was 3.4x.
Given the strong recovery in coal price at the beginning of 2021, gradual volume recovery is expected for the rest of 2021 on the back of coal market improvement. The Company shall remain focused on securing new contracts, liquidity preservation, optimization of existing assets and cost reduction to gain momentum and seize opportunities as market recovers.
In January 2021, BUMA entered into an extension agreement with IPR on its mine located in Tabang, the Kutai Kartanegara Regency, Province of East Kalimantan. The agreement extends the existing contract to December 2031, and includes a significant expansion of the work entailed, providing additional volume of over 650 million bcm of overburden removal, over 210 million tonnes of coal to be extracted and over 75 million tonnes of coal to be hauled.
In June 2021, BUMA also signed a new contract with Adaro for its Tutupan Mine Operation, located in Tabalong Districts, South Kalimantan and Barito Selatan Districts, Central Kalimantan. The term of the contract is until December 2025. Total volume of the contract is over 234 million bcm of overburden removal and over 44 million tonnes of coal to be extracted. Average annual production is expected to be within the range of 30- 70 million bcm of overburden removal and 5.0 – 12.0 million tonnes of coal.
On 10 February 2021, BUMA successfully issued a US$400 million 7.75% 5NC2 Senior Notes due 2026 (“Senior Notes 2026”). Concurrently, a tender offer and consent solicitation were completed in order to align terms of BUMA’s US$350 million 7.75% Senior Notes due 2022 (“Senior Notes 2022”) with that of Senior Notes 2026. Following transactions above, bank loans were fully settled, and full redemption of Senior Notes 2022 were completed by 31 March 2021.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
|
|
|
Showing 516 to 520 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
|
| |
| |
|
