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.
|
|
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
|
|
|
Showing 526 to 530 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
|
| |
| |
|
